Factoring Companies in Canada: Best Options for Business Funding

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Factoring companies in Canada make sourcing immediate cash easy for businesses of all sizes. Through invoice factoring, they buy a business’ accounts receivable and take over the responsibility of collecting payment from the business’s customers, providing businesses with immediate working capital and the freedom to focus on growth. 

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Companies with reputable factoring services facilitate invoice factoring, from verifying and buying invoice submissions to collecting customer invoice payments. After deducting a small fee upon collection, they remit the remaining balances to the business, completing the factoring process.

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However, not all factoring companies are created equal. This post dives further into the ins and outs of invoice factoring and compares the top companies providing these services in Canada. Let’s compare their invoice factoring services and discover the right company for your business.

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Industries Benefiting from Factoring Companies in Canada

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Any B2B provider across industries can benefit from working with factoring companies, but especially those with cash flow management issues. Whether due to slow-paying customers, extended payment terms, or a lack of capital, the following industries can benefit more from factoring than others. 

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• Transportation & logistics companies that often wait for shippers to pay invoices while facing issues with payroll, fuel costs, and upkeep
• Healthcare providers dealing with delayed insurance payments, long wait times for grants, and other financing hurdles that create cash shortfalls 
• Oil and gas companies facing long approval processes, leading to cash shortfalls
• Manufacturing firms facing high costs due to equipment purchasing or inventory management
• Staffing agencies where customer invoices often arrive late, creating potential deficits in operating revenue
• IT companies where extended payment cycles are standard and lengthy, putting them at risk for cash shortfalls, especially during periods of infrastructure expansion

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Specifically, invoice factoring will benefit any business that faces extended payment cycles, frequent cash shortfalls, and wants to avoid debt (and negative equity). 

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How Invoice Factoring Benefits Businesses

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While invoice factoring has existed for centuries, economic challenges in the 21st century have encouraged banks to increase their risk thresholds and tighten loan requirements. From this came a blessing in disguise for businesses. 

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• Debt-free cash flow: Selling your unpaid invoices generates immediate cash. No borrowing equals zero debt. 
• Easier approvals: Get funded without having to meet the stringent criteria associated with loans. 
• Streamlined business focus: An invoice factoring company does the heavy lifting of managing your accounts receivable, so you can focus on essential business functions. 
• Scalable: With more customers, you’ll generate more outstanding invoices and, therefore, have more assets to sell. 
• Competitive advantage: Invoice factoring alleviates cash shortfalls and payment delays, putting you in a better position to negotiate with your partners. 

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Invoice companies deliver these benefits differently. Let’s compare Canada’s top factoring companies and their offerings. 

‍→ Related content: Experts Answer: Is Invoice Factoring Right For Your Business?

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Best Factoring Companies in Canada

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The list of factoring companies in Canada shows at least 26 recognized invoice factoring companies. However, there are a few standouts. We listed the top Canadian factoring companies that have established themselves as key players.

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REV

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Based in Woodbridge, Ontario, REV is one of the best factoring companies in Canada. We serve medium to large-sized businesses in various industries across Canada and the United States. Founded in 2017, the company funds more than $3 billion per year.

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Riviera Finance

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With 25 offices across the United States and Canada, Riviera Finance serves primarily small and medium-sized businesses in most industries, except key ones, such as medical, construction, and transportation. Established in 1969, the company has been in business for over 55 years.

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eCapital

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Headquartered in Miami, Florida, eCapital offers factoring services to small and medium-sized businesses in over 80 industries, ranging from healthcare to consumer goods. The company was founded in 2006 and brings nearly 20 years of experience.

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FundThrough

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Located in Toronto, Ontario, FundThrough serves predominantly small businesses in Canada and the United States, offering fast access to working capital. The company opened its doors in 2014 and brings 11 years of experience.

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Accord Financial

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Accord Financial, located in Toronto, Ontario, serves businesses of all sizes and various industries, including the retail sector, film/media industry, and more. Founded in 1978, it has over 45 years of experience.

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How REV Stands Out Among Factoring Companies in Canada

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When choosing an invoice factoring partner, businesses often weigh factors like industry specialization, customer service, and speed of funding. While many providers (like the ones listed above) offer pieces of the puzzle, REV delivers the complete picture—a full-service, client-first experience that makes funding faster, simpler, and more strategic.

• Personalized service to help you make more informed funding decisions, a service not commonly offered by factoring companies. 
• No startup fees or monthly minimums—a common cost associated with factoring companies—making our service more cost-effective.
• Substantial funding capacity, with the capability to fund up to $10 million. 
• Advanced technology platform and online portal offer a real-time display of your receivables, invoices and more, secured by bank-grade 256-bit encryption. 
• Industry expertise across various industries, including transportation, oil and gas, manufacturing, staffing, and more, proves our tried and tested knowledge
• Complete transparency, providing clear, upfront fee structures.
• Agile and fast funding, which you can access even in urgent, time-sensitive situations. 

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With REV, you get more than a single standout feature—you gain access to a full-service financial solution experience that makes funding straightforward, without the hassle of bank loans. 

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Invoice Factoring from REV as the Way to Go

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Business loans are no longer the only means of funding a venture. Invoice factoring has become a more recognized form of business financing that can help companies overcome cash flow problems quickly and easily. In Canada, factoring companies help companies of all sizes and types, including yours, leverage invoice factoring and get the financing solutions they need. 

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REV can help alleviate cash flow problems while funding rapid growth. Through our comprehensive invoice factoring services, we help you solve financial issues and reach your next stage of business growth.  

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Contact us here at REV. Let’s get you funded in no time.