The EBF Group Ltd., operating as Express Business Funding (“EBF”), a leading Canadian factoring company, has provided non-notification factoring facilities to two Vancouver based companies.  Sharing common ownership, both companies were referred to EBF by the Special Loans Department of their chartered bank.  After a couple of difficult years, the companies have been working hard to streamline operations and return to profitability but were impeded from implementing all the changes necessary due to restrictive covenants with their traditional lender.  EBF paid out their bank lines and has provided them with $2 million and $1 million factoring lines respectively.  This will provide them with increased working capital and the flexibility they need as they continue their restructuring and return to profitability.

“We are very excited to be working with these two long established companies.  Although they are facing some challenges, we are impressed with the experience and dedication of the ownership and management team, their solid performance record over the years, and their very strong customer base.  We are confident, that in partnership with EBF, they will be back to profitability within 12 months,” said Anne MacRae, EBF’s Vice President of Business Development.

Founded in 2001, EBF provides factoring, reverse factoring, asset-based loans, and purchase order funding to Canadian-based companies.  EBF’s hands-off approach to factoring allows its clients to manage and collect their own receivables without the ongoing involvement of a third party.  EBF’s perspective is that the client is in the best positon to manage the customer relationship.