Turn Your Receivables into Working Capital
Immediate liquidity against your outstanding invoices, structured around how your business actually operates. For Canadian companies whose financing needs fall outside traditional bank criteria.
- Facilities up to $5,000,000Sized to your receivables, and able to grow with your sales.
- Structured around your billing cycleAdvance rates and reporting set around your customers and terms.
- Fast decisions from experienced lendersYou deal directly with the people who make the call.
- Straightforward termsYou see what the facility costs before you sign.
Simple Once It Is Set Up
You Invoice as Usual
You deliver the work or the goods and send your customer an invoice, as you do today.
We Advance Against It
Once the invoice is verified, Provida advances most of its value to your account.
Your Customer Pays
Your customer pays the invoice to a Provida account on their normal terms.
You Receive the Balance
We release the remaining balance to you, less our fee, and the cycle continues as you bill.
Built for Businesses That Invoice Other Businesses
Our factoring clients are established mid-market companies in trucking, staffing, energy services, and business and professional services. What they share is strong sales to creditworthy customers and cash tied up waiting for those customers to pay.
Most come to us when they are growing faster than their balance sheet, working through a turnaround, or managing a cash flow gap.
The Quality of Your Invoices
- Who your customers areTheir creditworthiness matters as much as yours.
- Your receivables agingHow your invoices are spread and how quickly they are paid.
- Your financial statementsRecent results, and the story behind them.
- How your business runsContracts, billing practices and the people involved.
Factoring, Explained
How much can I receive against an invoice?
Most of the invoice value is advanced up front. The advance rate depends on your customers, your industry and your payment terms. The balance, less our fee, is released when your customer pays.
What does it cost?
Each facility is priced on its own terms, based on your customers, your invoice volume and how quickly invoices are paid. We set out the full cost before you sign.
Will my customers know?
We offer both notification and non-notification facilities. With notification, your customers pay a Provida account. With non-notification, they pay into a blocked account that has your company name, but that Provida controls. We will recommend the right fit for your business.
How quickly can a facility be set up?
It depends on how quickly we receive your documents. We move fast once we have your receivables aging, financial statements and a few sample invoices.
What if I need less than $500,000?
Provida Express covers facilities from $30,000 to $100,000 for smaller businesses.
See What Your Receivables Could Fund
Tell us about your business. A member of our team will contact you within one business day.