Called “Financing Your Receivables and Payables,” the seminar explained the concepts of factoring (receivables financing) and reverse factoring (payables financing).
The 30 participants who attended learned, among other things, how to finance their growth, decrease their dependence on buyers, obtain discounts from suppliers and secure longer payment terms.
National Bank is the only bank that offers factoring (collecting payment from customers immediately through NBC) and reverse factoring (paying suppliers immediately through the NBC and repaying NBC over a longer term) to both NBC and non-NBC customers.
This type of service is often used by SMEs to finance seasonal activities but is also popular with subsidiaries, which capitalize on factoring to provide their parent companies with working capital as fast as possible and with placement agencies (e.g. consultants or temporary nursing care) to finance their workers’ salaries.
We hope this seminar provided our Laval firms with constructive business solutions.