Press Release, May 30th, 2007
(PRLEAP.COM) Toronto, Ontario – Commercial Capital LLC, a leading factoring company, has started helping Canadian companies obtain factoring services. Factoring financing, which is gaining traction in Canada, enables companies to get an advance on their invoices, eliminating the need to wait up to 60 days to get paid.
In most commercial transactions, the seller has to deliver their product/service immediately and give buyers up to 60 days to pay their invoices. Offering payment terms is very common when selling to large and established businesses. However, few small and mid sized companies can really afford to offer payment terms. But they have to, if they wish to succeed in the marketplace. Factoring financing provides companies with an advance on their invoices, giving them the cash flow they need to pay suppliers and employees.
“Invoice factoring is an ideal product for companies that have exhausted their working capital,” said Marco Terry, president of Commercial Capital LLC. “It provides the necessary financing to operate the business and is a great alternative to conventional bank financing ” added Terry.
As opposed to bank financing, factoring is easy to obtain and can be set up very quickly. This makes it an ideal solution for new and growing companies who have a strong roster of customers but not a lot of capital. It works well with companies whose main challenge is that they cannot afford to wait up to 60 days to get paid.
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