Similarly, businesses with no assets or operational capital can easily apply for and obtain factoring for their invoices.
Factoring is available for even the smallest business or one-person operation. It doesn’t matter whether factoring is required for one invoice in a month or many. Small business owners and sole proprietors can apply for factoring.
Businesses also do not need to factor all of their customer invoices if they do not wish to.
Approval for factoring invoices does not involve long-term contracts between the factoring company and the client company. Businesses can use factoring services as they need to.
Approval processes and payout times differ from factoring company to factoring company. Be sure to ask the factor you are considering what their approval process looks like.
There’s a large pool of factoring companies to choose from in Canada. So, with the right research, you’re sure to find the right fit. Factoring Companies Canada can connect you with the best factoring company for your needs. Explore our Factoring Guide to discover what you should look for in order to effectively compare different companies, or get in touch, and we will do all the research for you.
Contact us for a factoring rate quote today.