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Accounts Receivable Financing (Factoring)

Factoring is a process of selling unpaid recievables at a discount.Factoring is an alternative to bank financing and is generally used by high growth companies and by those who have immediate cash shortages.Immediate cash generateion allows management to develop and grow the business by freeing time that may otherwise be spent dealing with trade creditors and other credit obligations.

Unlike bank lending where borrowing is secured by the assets of your business, factoring is selling your accounts recievable at a discount. Advance Amounts are 100% less the discount fee.

To initiate the process, the following information is required

*Copies of invoice(s) to be sold

*Copies of contracts under invoice

*Letters of incorportion or Business Registration(also trade name if applicable)

*Corporate documets identifying the signing authorities, corporate officers and directors, their dates of birth

*Your bank account manager

*Last Revenue Canada remittence for payroll, GST, PST, WCB and EHT

*Personal ID of Signing officers

*For Government invoice discounting, your corporate seal is required for initalizing all documents   


Frobisher Financial Corporation

190 O'Connor St., Suite 400 Ottawa Ontario, Canada K2P 2R3

Telephone: (613) 232-8712 Fax : (613) 230-8116

Brian Bradfield - General Manager

Caroline Leslie - Account Manager

Jody Moar - Account Manager

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