ontario-flagMore Canadians live in than any other of the ten provinces: in fact some 40 percent of the nation’s population are Ontario residents. Ottawa, capital of Canada, and Toronto, the country’s largest city by far, are both in Ontario. Ontario is the second largest province and shares a long border – 1,700 miles of inland waterways – with five states in the United States. With its many rivers, Ontario is a hydroelectric energy powerhouse, which led early on to its leadership in . The St. Lawrence River has also been a key player in its manufacturing success; ocean-going container ships can carry everything from iron and steel to paper and wood products from the province’s vast forests in the north. There are many industries that can benefit from using in Ontario.

Huge car assembly factories dominate the industrial scene in the south, where Ford, General Motors, Chrysler, Honda, Toyota, and other have produced more vehicles than in some years. In addition to giant corporations, thousands of small and medium-sized businesses contribute to the provincial economy, especially in the high tech field. Many of these companies are ready to expand their operations, with more staff, new technology, larger facilities or better marketing efforts, but find that they need a financial boost. They may have working capital for overhead expenses, but waiting for customers to pay them holds them back from growing their businesses. Other companies face seasonal or periodic financial challenges when they need to pay their fixed overhead costs.

Invoice factoring can help business owners in both situations. The factoring company purchases its clients’ invoices and pays them the majority of the invoice amount upfront, minus a small factoring fee. The transaction does not require the business owner to take out loans or incur debt. Ontario business people find that factoring is an easy and affordable way to speed up their cash flow. It allows them access to the money that has been sitting in their accounts receivable and gives them the ability to use that money now for whatever they need.

Ontario Factoring by Industry

  • Manufacturing
  • Financial services
  • High tech industry
  • Mining, especially iron
  • Timber and wood products
  • Tourism
  • Agriculture

Some of the best Factoring Companies in Ontario

View the above list of factoring companies in Ontario for more information.

Comments are closed