Invoice Discount Financing (Factoring) FAQ
Q. Who can benefit from factoring?
A. Small to medium-sized manufacturers, wholesalers and service providers that do business with larger companies and/or the government.
Q. What if our company already uses a bank?
A. Factoring can be used in conjunction with your present bank financing.
Q. Does a company have to sell all of its invoices?
A. No. You sell only as much or as little as you like, as needed.
Q. After we submit an invoice, how long is it before funds are advanced?
A. Funds are advanced 24 hours after verification of the invoice.
Q. Will Morrison Financial purchase invoices payable by companies outside Ontario?
A. Yes. We purchase invoices payable from other provinces as well as from the US.
Q. Will you work with brand new businesses?
A. Yes, our service is specifically designed to helping new companies grow.
Q. Will you help companies that have recently lost money?
A. Yes. Morrison Financial is interested in helping companies in which future earnings are stalled by current, temporary cash shortages.
Q. Does Morrison Financial provide any other services?
A. Yes. Please refer to our Services section for more information.
Q. Where can I learn more about Factoring and Asset-Based lending?
A. Please visit the Articles and News section, or contact a Morrison Financial representative.