How long does invoice factoring take to set up in Canada?
Facility setup takes 5 to 10 business days from a complete file. Once live, each batch of invoices funds within 24 hours of submission — permanently.
Start an applicationThe setup window covers underwriting your customer list, verifying invoices and any existing security registrations, setting the advance rate and customer limits, and putting the notice of assignment in place. A complete submission — customer list, invoice aging, bank statements, sample invoices — is what keeps setup at the short end.
After setup, factoring is the fastest recurring financing instrument available: deliver, invoice, submit, and the advance lands the next business day. That 24-hour cycle is the reason staffing agencies run weekly payroll against it and carriers fuel trucks with it.
The one-time setup cost in days buys a permanent change in cash-flow timing — which is why the right comparison for factoring is not against products that fund once, but against every future month of waiting 30 to 90 days to be paid.
Speed to funding, by product
Figures are typical ranges for a complete file, not guarantees. Final terms depend on revenue, time in business, credit profile and lender review.
| Merchant Cash Advance (MCA) | 24–72 hours |
|---|---|
| Business Line of Credit | 3–10 days |
| Invoice Factoring | 3–7 days setup, same-day after |
| Equipment Financing | 3–7 days |
| Bridge Loan | 5–15 days |
| Term Loan | 7–20 days |
| Inventory Financing | Days |
| Purchase Order Financing | Days |
| Acquisition Financing | 20–60 days |