British Columbia Factoring Companies

Searching for the best factoring companies in British Columbia? Factoring Companies Canada is happy to match you with the right factoring company for your needs – just request a complimentary rate quote.

Below, you’ll find general information about invoice factoring companies in British Columbia, including how they work and details on getting started

How Receivables Financing Works

Accounts receivable financing turns your unpaid invoices into cash. Factoring is a special type of funding that unlocks working capital without creating debt for your company. When you work with an experienced British Columbia factoring company, the process is quick and easy, too.

  • Fulfill your customer’s request. Deliver goods or complete work like you normally do.

  • Invoice your client. Although some British Columbia factoring companies will generate invoices for you, businesses typically invoice their clients in their usual way and then submit the invoice to the factoring company afterward.

Services in British Columbia
  • Get paid instantly. You’ll receive most of the invoice’s value from your factoring company right away. Payments are typically made via ACH and deposited directly into your bank account, which means cash is usually available within two business days. If you need cash quicker, choose a factoring company that offers same-day payments.

  • Grow your business. You can put the cash to work however you like. In the meantime, your factoring company will follow up on the outstanding payment as needed and collect from the customer.

  • Receive the remaining balance. You’ll receive the remaining value of the invoice minus a nominal factoring fee when your client pays.

Benefits of Invoice Factoring

Invoice factoring sets itself apart from other business funding solutions in lots of ways.

  • Approval is a breeze. Whereas banks can take weeks to process your application and have rigid criteria, most small businesses with B2B invoices qualify for factoring and are approved within a day or two.

  • Payment is fast. Other business funding solutions can take months to pay out, but factoring gets cash in your hand within a couple of days.

  • It’s debt-free funding. There’s no debt for your business to pay back because the client pays it when they pay their invoice. 

  • It scales with your business. You don’t need to reapply to qualify for larger advances. Funding increases as your volume and invoice amounts do.

  • It can strengthen your business as a whole. Factoring can improve operational efficiency, help you boost your credit score, empower you to take on more work, and more.

How British Columbian Businesses Use Invoice Factoring

How you use your factoring cash is up to you, so businesses across British Columbia apply the funds to lots of different things.

  • Make payroll.

  • Invest in your team.

  • Maintain and purchase equipment.

  • Obtain inventory and materials.

  • Comply with regulations.

  • Navigate emergencies.

  • Stabilize cash flow.

  • Invest in growth initiatives

Businesses and Industries That Use Invoice Factoring Services

Known for its natural resource sectors, British Columbia’s many oil and gas and forestry companies routinely leverage invoice factoring to keep up with demand. However, there are many industries across British Columbia’s multifaceted economy that rely on invoice factoring to stop gaps in cash flow and finance crucial changes and movements in their growth and development. A few industries and business types that benefit from factoring in British Columbia include:

Additional Services Offered Alongside Accounts Receivable Financing in British Columbia

Each factoring company in British Columbia provides a unique set of services. A few common offerings in addition to factoring include:

  • Customer credit checks. Manage the credit you extend to your customers intelligently by verifying customer creditworthiness before invoicing. 

  • Invoice preparation. Operate more efficiently by allowing your factoring company to generate invoices for you.

  • Collections services. Save hours each week. Your factoring company will collect balances for you.

  • Industry-specific benefits. Work with a partner specializing in your industry to qualify for additional services. For instance, freight factoring is often paired with load board access, fuel advances, fuel discount cards, tire discounts, and more.

  • Alternative business funding. Tap into factoring alternatives as your needs change and your business grows.

Alternatives to Small Business Loans in British Columbia

Small business loans aren’t always the best solution due to their rigid requirements and how long they take to pay out. In addition to factoring, your factoring company may provide additional small business loan alternatives such as:

Operating a Business in British Columbia

There’s a lot to love about running a business in British Columbia. The people are fantastic and have established strong policies around shared values. Green initiatives, for example, have allowed British Columbia to become the cleanest jurisdiction in North America, with 98 percent of electricity generation coming from renewable or clean resources, province officials say. British Columbia also gets high marks for economic freedom. Second only to Alberta, British Columbia is one of the most economically free provinces in Canada, Fraser Institute reports.

British Columbia’s Business Economy

British Columbia is one of Canada’s most prosperous provinces. It continues to attract major investment and is increasingly focusing on small businesses and services to provide jobs and fuel further growth. Outside of Canada, it holds strong ties with the United States, Japan, China, Korea, and India. Its most notable growth industries are:

  • Agriculture
  • Clean Technology
  • Construction
  • Film and Television
  • Forestry
  • Technology
  • Manufacturing
  • Mining
  • Tourism

Starting and Growing a Business in British Columbia

The official British Columbia website contains a wealth of resources related to starting a business in the province, including step-by-step guides for starting specific types of businesses, ways to develop your business idea, and information on registering or incorporating your business.

While this can be an invaluable resource for starting a business, it can be difficult to find help as a business grows and the challenges shift. For instance, growing companies often face cash flow gaps during high-growth periods because they’re paying the costs associated with increased volume using the lesser returns of yesterday. Invoice factoring helps bridge this gap, so your company can reach the next level and continue expanding. If your business is currently at this stage and could benefit from cash flow acceleration, click the button below to receive a free factoring quote.

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Get an instant factoring estimate

Two columns
Name Total
"{{getWooProductName}}" has been added to your cart
Have a promocode?
Promocode Hide Show

Factoring results estimation is based on the total dollar value of your invoices.
The actual rates may differ.


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