YOUR COMPANY IS LOOKING FOR RECEIVABLE FINANCE!
WORKING WITH ACCOUNTS RECEIVABLE FINANCING COMPANIES
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Financing & Cash flow are the biggest issues facing business today
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Receivable finance in Canada. It's also known as the business invoice to cash strategy. Who wouldn’t want the real deal on what’s happening in accounts receivable A/R financing in Canada... how it works, who to deal with, what to watch out for, etc..
WHAT IS RECEIVABLES FINANCE?
Receivable finance allows a business to fund it's sales outstanding invoices based on invoices they have issued to clients that are fully earned - meaning of course that the company has shipped its product or provided a service. By financing the accounts receivable invoice with a commercial lender the challenge of waiting for cash flow is solved.
DOES YOUR COMPANY HAVE A CASH FLOW STRATEGY?
Maybe it’s just us, but there is a certain discomfort we notice with Canadian business owners and financial managers around their ability to feel 100% comfortable with their overall cash flow financing strategy. And when it comes to accounts receivable financing can the average Canadian business owner or financial manager actually say they understand the benefits, costs, and potential disadvantages of a business invoice to cash strategy? Not really in our opinion.
The time to properly consider such a strategy is when your business is still under control when it comes to the overall working capital strategy. When you don't feel in control you tend to have a total discomfort around acquiring new assets, making on-time payments to suppliers and lessors, or worrying about how you will manage growth.
TAKE TIME TO UNDERSTAND THE TRUE COST OF RECEIVABLE FINANCE
Cost tends to always be the main discussion point when the conversation gets around to A/R financing with clients. The issue is simply that in many cases the business owner is not comparing on a apples to apples basis.
Why is that then? Simply because the business person, makes his or her total decision, incorrectly on the ' discounting fee ' that is implied in the cost of A/R finance.
MISCELLANEOUS FEES AND COSTS CAN ADD UP
Oh and by the way, if you are dealing with the wrong company in Canada you can get blindsided by numerous miscellaneous charges that really add up, they include service fees, an admin fee, a renewal fee, a utilization fee, and, believe it or not, many of these firms require that you have to pay them to leave! Talk about the importance of dealing with the right firm!
ALTERNATIVE TO A/R FINANCING
Accounts receivable financing vs invoice factoring
When considering A/R finance strategy it is good though to compare it to the alternatives when it comes to benefits. Unlike a bank facility, which many firms can’t qualify for any way the business invoice to cash strategy has virtually an unlimited cap when it comes to access to cash.
As most business people know banks in Canada have, of course, pre-set limits on bank facilities we can comfortably say that you are only constrained by your ability to make sales when you consider accounts receivable financing, which isn’t the worst problem to have. You have, in effect closed the gap when it comes to cash flow flexibility and financed the balance sheet.
Our recommended facility is the confidential invoice financing one, its here you get to bill and collect your own A/R, while at the same time achieving all the other benefits. It's true receivables financing.
CONCLUSION
Factoring accounts receivable and your trade receivables?
Confused about who to deal with, how it works when it comes to receivable financing ? One way to achieve the real deal on what’s happening in Canadian business financing is to seek out and speak to a trusted, credible and experienced Canadian business financing advisor... today.
