SOLUTIONS

Receivables-based Financing

Many established businesses experience a timing gap between issuing invoices and receiving customer payment. Invoice factoring can help manage that gap by providing liquidity against eligible commercial receivables.

Cash-Flow Support

Invoice factoring can help businesses manage cash flow while waiting for customers to pay outstanding invoices. It involves selling eligible commercial receivables to Summit Stone under an agreed factoring arrangement. Following a review of the invoice, account debtor and supporting documentation, Summit Stone provides an agreed advance. The receivable is then collected according to its payment terms and the applicable factoring arrangement. Once payment is received, any remaining balance is paid to the business, minus the agreed factoring fees.

Working Capital Assistance

A contractor completing maintenance work for municipalities may wait 30, 60 or 90 days to receive payment. During this payment cycle, the contractor still needs to pay employees and purchase materials for upcoming jobs.

To improve cash flow, the contractor may choose to factor eligible invoices. Once the work is completed, the invoice is submitted to Summit Stone for review. Following verification, Summit Stone may advance an agreed portion of the eligible receivable. Summit Stone then collects payment from the customer according to the invoice terms. Once payment is received, the remaining balance is paid to the contractor, minus the agreed factoring fee.

Factoring for Project- and Contract-based Businesses

For businesses that complete work before receiving payment, factoring can provide liquidity against eligible invoices during the payment cycle.

We help established Ontario businesses manage the timing gap between invoicing and customer payment through relationship-based invoice factoring.