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Will TCE purchase invoices from new
businesses or companies that have lost money?
Yes. TCE is focused on purchasing invoices due
from good quality customers. In most cases, we
can help even if your company does not have any
established track record or has incurred losses
to date. |
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Will TCE purchase invoices if my company
already has Bank financing?
Yes. Invoice Discounting can generally be used
in conjunction with your present Bank financing. |
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Will TCE purchase invoices payable by
companies outside of Canada?
Yes. TCE specializes in purchasing invoices from
good quality customers. These customers may be
located in Canada or the United States. Other
international receivables will be assessed on an
individual basis. |
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Does my company have to sell all of its
receivables?
No. You can sell as few or as many invoices as
you wish. |
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What type of invoices can I sell to TCE?
TCE will purchase good quality, fully earned
invoices. TCE does not finance purchase orders. |
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Will my clients have to know that I am
selling my invoices to TCE?
No. If your company qualifies, TCE can establish
your facility so that your clients will not be
notified that you have sold your invoices to
TCE. Your client will send the payment to you
and you will forward the cheque to TCE. You will
continue to issue invoices and conduct
collections as you have in the past. We refer to
this structure as “non-notification.” |
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What percentage of the invoice amount
can I expect to receive?
TCE will advance up to 90% of the face value of
the invoices. The remaining balance (known as a
holdback) is returned to you net of TCE fees
once the invoices have been paid. |
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Is there an application fee?
There is no fee to apply. Once your
application has been approved, TCE will issue an
Expression of Interest Letter (EOI). Upon
acceptance of the EOI Letter, TCE requires a
modest processing fee to conduct due diligence
and issue the final Terms Letter. Once the Terms
Letter is accepted, legal documents are prepared
and the facility is activated. |
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How long does it take to review my
financing application?
TCE will provide a decision within 48 hours of
receipt of a complete financing application
package. Once your application is approved, it
will take approximately 15 days to activate the
facility. |
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Once an invoice is submitted, how long
does it take before the funds are advanced?
Funds can be advanced the same day the invoice
is submitted. |
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How does TCE assess its financing
charges?
TCE assesses its financing charges on a daily
basis and charges for the actual number of days
that the invoice is outstanding (from the date
of purchase to date of payment). |
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What happens if my customer does not
pay?
Invoice Discounting is recourse financing. If
your customer does not pay the invoice, you are
responsible to reimburse TCE for funds owing.
This is done by issuing payment for the funds
owing or, more typically, by discounting
additional invoices and using the proceeds to
pay down the amount owing. |
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Can you advance me funds secured by my
inventories? Do you provide inventory loans?
Yes. If your company qualifies, TCE can set up a
short term revolving loan, secured by your
inventory. Margin rates depend on the nature of
the inventory. |
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Does TCE provide other types of
financing?
Yes. In addition to Invoice Discounting, TCE
Capital also provides financing secured by
inventory, SR&ED Tax Credits and equity in
equipment and/or real estate. |
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Tell me about TCE Capital Corporation.
TCE Capital is a private Canadian company
specializing in working capital financing. We
were established in 1992 and are located in
Toronto. TCE is a funder, not a broker, which
ensures that funding is available when required.
We fund more than $350 million annually. |
TCE Mission: To provide a 48 hour
decision to a financing request.
PROTECTING YOUR PRIVACY |
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At TCE Capital Corporation, we are
committed to protecting the privacy and security
of the personal information obtained from
you in connection with your relationship with
us. |
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Policies and Procedures have been designed to
comply with the Personal Protection and
Electronic Documents Act (PIPEDA). |
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The personal information we collect, and any
other personal information collected and
maintained in the course of an individual’s
interaction with TCE, will be used:
1. To confirm your identity and to obtain
specific credit information from public credit
agencies.
2. To provide you with important notices about
your relationship with TCE.
3. Generally, to provide you with the financial
products or services that you have requested. |
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TCE does not give, rent or sell our customer
information to any organization or individual
unless it is required to provide you with TCE
financial services, or when required by law. |
Click below to view and print entire Privacy
Policy (pdf document)
Privacy Policy |
Contact TCE Capital today at (800)
465-0400 for additional information on working
capital and cash flow funding programs available
through invoice discounting and accounts
receivables factoring. |
