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Prince Edward Island: Invoice Factoring

Do your clients pay invoices in 30 – 60 days? This delay can often lead to cash flow problems, especially for small and mid-sized companies that are growing quickly.

You can improve your cash flow by financing your invoices. This solution provides you with immediate funds, which you can use to pay employees, suppliers, and other important expenses. We can help companies that:

  • Sell products or services to other companies
  • Can’t wait up to 60 days get paid for their invoices
  • Need operating capital

We are a leading factoring company in Prince Edward Island and can provide you with a competitive factoring quote. To speak with an expert, call us toll-free at (877) 300 3258.

Business financing options:

Invoice Factoring

Invoice Factoring

Provides an advance for your slow-paying invoices from creditworthy customers. Works in most industries, including business services, manufacturing, and consulting.

Transportation

Transportation

Ideal for Prince Edward Island transportation companies and freight brokers. Our program can help you pay for drivers fuel and repairs.

Staffing Agencies

Staffing Agencies

Staffing agency factoring is ideal for temporary staffing agencies and personnel companies. We help ensure you have the funds to meet payroll.

Purchase Order Financing

Purchase Order Financing

Financing for re-sellers, wholesalers, and importers. Our program ensures you have the necessary financing to pay your suppliers and deliver your orders.

How does invoice factoring work?

Most invoices are factored using two instalments. The first instalment is deposited to your account as soon as the work is completed. The second instalment, which settles the transaction, is deposited once your customer pays in full on their usual schedule. A typical factoring transaction proceeds as follows:

  1. You submit an invoice for financing
  2. The first instalment is deposited: 80% – 90% of the invoice
  3. Your customer pays in 30 – 60 days
  4. The second instalment is deposited: 10% – 20%, less fees

For more information, read “Is Factoring the Right Choice for my Company?

How does purchase order financing work?

Purchase order (PO) financing covers supplier expenses associated with a specific purchase order. It enables you to fulfill larger orders than you normally could with your current resources. This aspect of PO financing makes it an ideal tool for re-sellers and wholesalers. Transactions are settled once your client pays for the goods.

Learn more about PO financing and its benefits.

Benefits

Working with us can put your business on a solid financial footing. Some advantages include:

  • Get working capital to run and grow the business
  • Professional credit screening of your clients
  • Flexible financing that is tied to your sales

Locations

We can provide financing services to companies that operate in every city of the province. Our coverage area includes:

  • Charlottetown
  • Summerside
  • Stratford

Additional resources

Are you evaluating factoring companies in Prince Edward Island? If so, read “How to Choose the Best Factoring Company.” Also, if you need more information, review our resource centres:

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