The 5 most Frequently Asked Questions on the Finexcorp factoring solutions:

  1. By using factoring, will my customers not believe that I am having financial difficulties?

    Not really; factoring is a financing vehicle comparable to many others and more and more companies understand the need for fast available liquidities; many very well known corporations use factoring.

    Furthermore, by using factoring your clients realise the importance you attach to be a serious and steady supplier to them.

  2. Who assumes the risk for bad debts?

    Who assumes the risk for bad debts?

    In some cases, Finexcorp can insure at full value your receivables through specialized renowned insurers.

    In cases where you assume the credit risk, Finexcorp can supply a full array of mechanisms allowing you to make a sound assessment of your clients and avoid problematic situations.

    Our knowledge and expertise in evaluating risks is a definite asset.

  3. When shall factoring be used?

    At any stage of your company’s development, Finexcorp factoring is an essential financing tool

    • During the start up period, factoring provides immediate necessary cash to alleviate lack of capitalization or of bank financing. Since Finexcorp leverages your actual assets, ratios, corporate and personal history guarantees are irrelevant; our only criteria is your sales
    • During the ramping up period, factoring follows your sales and expansion as cash becomes available as your sales are concluded. You are not limited by a set line of credit and the cost of managing your expanding sales and receivables is reduced to a minimum
    • In a cyclical expansion mode, factoring is perfectly tailored to follow cyclical and seasonal financial needs
    • As your company progresses through a steady evolution mode, factoring is very useful to take advantage of peaks and special situations without impairing your conventional financing with urgent requirements
    • All businesses go through reorganizations to adapt to changing market conditions; oftentimes conventional banking has difficulties coping with those situations: Finexcorp factoring, because of its flexibility, is the ideal answer during those more stressful periods.
  4. Why shall one use factoring?
    • Fast and easy to set up
    • Flexible
    • Follows ups and downs of sales
    • No financial ratios to accommodate
    • Reduction of internal costs associated with management of receivables
    • Can be coupled with traditional bank financing
    • Allows diversification and follows volume of sales
    • Can be used at any point in your business cycle

    Finexcorp offers a highly professional personalized partnership approach to its clients

  5. How long does it take to put a Finexcorp financing product in place?

    Since Finexcorp is a privately held corporation, our standard financing products such as factoring are typically closed within 5 working days.

    Steps before a first disbursement:

    • Finexcorp will usually forward an offer within 24 hrs once preliminary information is received
    • Once you have is accepted our offer, we will provide all necessary contracts and documentation again within 24 hrs of your acceptance
    • As soon as documentation is duly signed, we will immediately start setting up the mechanisms allowing adequate exchange of information and financing of your receivables
    • Within 5 working days, you shall receive a first disbursement
    • Disbursements are made via wire transfers in your present bank account- you do not have to open a new account

We will gladly answer all your questions and observations; please feel free to contact us at info@finexcorp.ca or by phone at 1-877-653-5777

You will hear from us within 24 hours.

Team Marketing.Web.Design