A Receivables Financing Counterpunch – Making Factoring Cost Work For Your Company
Posted by admin in news article on December 23, 2011
How much is it? No we aren’t in line at a department store, we’re sitting with our clients who are always asking what the true cost of factoring receivables is and if a receivables financing facility is their real solution for working capital problems. They ask other questions also, such as how the facility works and what is the best type of facility for the Canadian business marketplace, so we we’ll cover those off also.
We don’t think there is more of a misunderstood business financing in Canada, notwithstanding the fact that receivables financing is growing in popularity traction everyday. The biggest stigma around the topic is really the true cost, and we use the word true cost because many Canadian business owners and financials managers simply don’t understand the components of that true cost, and more so, how these costs can be significantly offset and reduced.
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Factoring Could Help Boost the Cash Flow of Your Business
Posted by admin in news article on December 16, 2011
The practice of factoring is being adopted by a number of businesses to help them secure payment of invoices more quickly and also improve their access to cash.
This financial transaction is where a business sells its accounts receivable or its invoices to a third party – albeit at a discount – for immediate payment.
It is usually used by companies when the available cash balance that they hold is not sufficient to meet their existing commitments or to meet their other cash needs such as fresh orders or contracts.