Canada

Wells Fargo Company said it will offer accounts receivable purchase programmes and expand its asset-based finance capabilities to companies throughout Canada through a new affiliate.

Euler Hermes Canada, has today launched a new Credit Insurance policy today designed with smaller or starting businesses in mind.

Business think tank CD Howe Institute recommend that Export Development Canada (EDC) begin to withdraw from the short-term export credit insurance business.

According to the Canadian Finance and Leasing Association, the asset-based financing and leasing industry finances as much as 25% of annual new investment in machinery, equipment and commercial vehicles in Canada.

In its Q3 results Accord Financial said that its factoring volume was strong and 12% higher than the same period last year.

Terry Banks, director of ESD Fisheries, pleaded guilty to fraud and theft over C$5,000 for factoring invoices to CIBC between 2000 and 2001.

 

 

 

Coface has begun trade receivables factoring in Canada through Coface Credit Management Canada Company.

Factoring companies want to know that their clients are in sound financial health. Vern Krishna looks at how the link between cash flows and net income can help analyse this.

The idea of selling receivables may once have been looked on askance by Canadian businesses.

Canam Credit and Rogers Associates have terminated their merger agreement.