ledgered line of credit
An ideal line to cover payroll for temporary and contract placement staffing agencies
1 (800) 964-3576
Ledgered lines of credit for Canadian companies. A ledgered line can be an ideal solution for companies in Canada that are considering a traditional line of credit or are present with a bank line and would like to get away from the strict requirements but maintain competitive pricing and flexibility. And unlike a traditional line of credit, there are no constant audits required or covenants with respect to ratios, concentration, etc.
The process is simple, the company submits invoices, it creates a pool or borrowing base, then draws ranging from 80% to 95% depending on the overall merits of the transaction. The client can draw funds, daily, weekly, bi-weekly, or monthly.
Funding is based on the value of your receivables, providing constant capital based on sales.
ADVANTAGES NOT COMMON WITH A TRADITIONAL BANK LINE:
- No audit requirements
- No restrictive financial requirements
- No restrictive covenants
- No financial ratio requirements
- No concentration restrictions
- No long application to the funding process
- Plus other benefits
For more information, please submit this SHORT FORM. The office that handles your local area will contact you shortly.