Asset Based Factoring

For Business Owners looking for  ways to raise capital when banks say "No"…

"Can Asset Based Factoring Really Double Or Triple Your Sales?"

Asset Based Factoring is the process of selling, at your discretion, all or some of your invoices or accounts receivable to a Factor such as iFactoring Canada for immediate cash releases.

iFactoring Canada will immediately advance you an agreed upon percentage of your credit worthy invoices as one of their major factoring services. The immediate payment varies from 80% – 90% of the net value of the invoice.

For your protection, free of charge, and after confirming that you are dealing with credit approved customers, iFactoring Canada always collects the full gross value of all invoices from your customers and remits the balance due to you as soon as your customers / debtors pay us.

The funding is electronically deposited into your bank account within 24 hours of the factor receiving the documents.

Asset based factoring is one of the most efficient, versatile methods of financing your growing business. It is always tailor-made to your specific business and requirements.

You are able to use any of our factoring consultants as long as required. They are available while you are registered as a client at any time during the factoring process.

Such use of all of our factoring consultants is always totally free of charge and if you require, they can help you run your business and make day to day decisions.

There is a one time set up fee used to cover the cost of doing all the searches (verifying if your receivables have been assigned to someone else), registration of securities in favour of the factoring company and the required legal documentation.

This fee is only charged AFTER the factoring company has provided you with a term sheet describing all the details from the factoring company, and is subject to is provided and you are accepted as a client for any of our factoring services.

Asset Based Financing up to $5 million for:

  • Start ups

  • High growth

  • High concentration of accounts receivable (few large customers /debtors)

  • Purchase order funding with limited working capital

  • Operational turnarounds

  • Financing restructurings

  • Acquisitions

  • Management buy-outs

The Steps involved in the Asset Based Factoring Process:

Day 1: Initial telephone chat to determine compatibility
Day 1: Prospect submits a completed application
Day 2: Factoring company goes through the application’s details
Day 2: CRA payments and the clients’ personal statements are verified.
Day 4: Factoring company asks questions and comments about the application
Day 5: Customers’ credit is checked
Day 6: Authority to received payments are made
Day 8: A Proposal Letter / Term sheet is sent to the prospect client
Day 8: All factoring services are done in conjunction with the client
Day 9: Authority is obtained to electronically deposit funds into client’s accounts