Factoring Can Help Your Business

There are many options when it comes to receiving non-dilutive funds – loans, grants, subsidies, financing. But did you know there is also factoring? Many entrepreneurs aren’t aware of this option. Factoring is borrowing against future income, grants, or invoices that are not paid, which can free up capital for use in more productive places. Factoring is typically a cheaper way of securing funds that are needed right away, than borrowing money from any other source.

Factoring can also be a credible alternative to the standard accounts receivable financing or a bridge financing loan. Factoring of invoices or future income can be a lot more flexible with short to long term repayment strategies.

Take a business that has many net-90-day invoices outstanding when employee payroll day arrives. The business will need to scale back in other areas, which directly impacts growth. Factoring is a solution to this, providing access to appropriate resources at all times. At Startup Visa Services, our goal is the success and growth of our clients, which means having cashflow at all times. That’s why our highly experienced team assists and supports entrepreneurs and businesses in Canada with factoring. 

How Startup Visa Services Assists Businesses With Factoring

Our team will assess all of your business’s receivables to determine which of them is most logical to factor. Depending on the needs of your business, it may be grants, outstanding invoices, other potential revenue streams, or a combination thereof. We can then proceed to assessing which institution is ideal for your business’s factoring needs. Given our extensive experience within the start-up and entrepreneurial field, our team has excellent relations with the institutions who will be providing your business with funds. 

When it comes to creating the package that will be presented to the institution of your choice, we can assist and guide, or we can handle the process on your behalf. This includes the gathering and/or creation of plans, projections, any requisite proofs or substantiations, and anything else that an institution may need in order to consider your business for factoring. 

Are you an entrepreneur in Canada? Does your business need to free up capital so that it can continue to grow optimally? Factoring may be the solution – and Startup Visa Services can help you attain that solution. Get in touch with us here to learn more about how we can help your business grow! 

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