Frequently Asked Questions

How does receivable funding help my business?

It provides fast and stable cash flow and that gives you much more flexibility than having to wait 30 to 90 days for your client to pay your invoice. It allows you to cover your expenses without having to turn to outsiders for funds.

How is receivable funding different than a loan?

Loans are based on your company balance sheet and financials. Receivables Funding is based on the creditworthiness of your customer. We are NOT balance sheet lenders.

What size of businesses do you deal with?

The largest client has several million dollars in invoices at any given time. Our smaller clients have a few thousand. The client range we serve is extremely broad; our primary focus is supporting small and medium size businesses with annual sales from $120,000 to $120,000,000

Are your fees tax deductible?

Just like the interest on a regular loan is deductible, so are ours. Our fees are a business expense like any other.

How long does it take?

It takes about 3 to 6 days to process your application. The time difference is based on how complex your business is. Once you are approved and in our system, then payments flow to you within 24 hours of receiving the invoice and supporting documents.

How can you charge less than the competition?

We work with the largest receivable funding group in the world. The economies of scale and committed volumes allow us to offer a great service at a more competitive cost.

What is the scope of your operations?

We’re based in Canada and have associated offices in 14-countries and the USA.
If you have a valid invoice anywhere in the world contact us. Chances are we can help.
Offices in Canada, England, Scotland, Ireland, Poland, Germany, France, Czech Republic, Sweden, Slovakia, Australia, Hong Kong, India, New Zealand, USA

What supporting information do you need with invoices to fund them?

We will send you a checklist that tells you the information we need. It varies with different types of business. A Staffing company wouldn’t have a Bill of Lading like a Trucking company. Business sectors are quite different.

What happens if my customer doesn’t pay?

If your customer hasn’t paid in 90-days, then the invoice goes back to you. You can replace the funds with another invoice. Receivable insurance policies are also available both for local customers and export customers. You know your customer and we’ll do a credit assessment, so the risks should be mitigated.

What is Receivable Funding?

It’s also called Factoring. The factor (us) advances you cash by buying your accounts receivable. We then collect the receivable. Advances can be up to 90% of the value of the receivable and, once your customer has paid the invoice; we take our fees and send you the balance.

My clients are very important to me. How does this affect my relationship with them?

We understand that. We send a letter to your customer explaining the relationship. Exportbank and our associated offices handle more than $5 billion in receivables worldwide. We do this in a professional manner. You’re our customer and are just as important to us as your customer is to you. We understand that relationship.