Factoring Iqaluit NU

Factoring is an alternative that businesses use when they need to generate positive cash flow to keep business running without having to take out a business loan. A factoring transaction is basically the sale of accounts receivable invoices at discount. There are three parties involved seller, factor and debtor. Once transaction occurs seller should never collect the payments made by the account debtor because it becomes factor’s responsibility. The receivables invoice is considered a financial asset that goes through a 3-step process; the factor will give seller an advance for invoices, then once debtor pays factor-factor will pay remaining reserve to seller, and lastly factor collects fee from seller. It’s a smart option only to be used when really needed. Here you will find competitive rates for factoring from the invoice factoring companies in Iqaluit, NU listed below.

Baffin Business Development Corp
(867) 979-1303
2nd Floor Igluvut Bldg
Iqaluit, NU
 
C I B C
(867) 979-8663
611 Ring Rd
Iqaluit, NU
 
Rbc Royal Bank
(867) 979-4845
Iqaluit, NU
 
Baffin Business Development Corp
(867) 979-1303
2nd Floor Igluvut Bldg
Iqaluit, NU
 
Rbc Royal Bank
(867) 979-8700
Iqaluit, NU
 
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