MoneyFactor is a Canadian financial services company that specializes in the factoring of invoice receivables for companies of all sizes in many industries.
Factoring is basically a financial transaction whereby a business sells its invoices or accounts receivables at a discount to a third party called a factor. As a factor, we convert your invoices into cash.
MoneyFactor provides financing, up to 90% of the purchase price of the accounts, to sellers of the accounts in the form of a cash “advance”. Once fully collected from the account client, the balance of the purchase price is paid, net of MoneyFactor’s commissions and other charges.