Our primary source of clients comes from Financial Institutions and financial service companies. As a factor and direct lender, we are able to supplement conventional banking services to those clients where a conventional line of credit cannot be cost effectively implemented or secured against the business assets. Philmark specializes in short-term financing as small as $5K and as large as $500K per transaction.

Your risk lies with the Client, Philmark’s risk lies with the Client’s Customers, together it is a powerful financial tool to fuel business growth.

Our services are targeted to those clients who fall outside of normal banking and full service conventional factoring parameters. Scenarios may include:

• Any short-term ‘bulge’ financing requests that cannot be fully accommodated by the Bank.
• Weak or “grey” personal credit histories, low credit scores.
• Often includes borrowing clients who have exceeded their current line of credit or have invoices that do not fall within necessary margining criteria.
• Companies who do not have current financial information available.
• Companies that are unproven, (less than 2 years old).
• Companies who are in arrears with CCRA, GST, PST WCB etc.
• Existing Clients whose credit line is no longer revolving.
• Instances where collateral has reduced in appraisal.
• Changes in ownership structure, buyouts or acquisitions.

Unlike conventional factoring companies, Banks retain a first position GSA and continue to provide a revolving line of credit. Our factoring systems are there for additional working capital requirements as and when the clients require additional cash injections above bank credit maximums.

With the addition of Philmark’s services, companies often become more bankable, develop stronger balance sheets and grow to a size where long-term lenders may now consider a conventional accounts receivable margining program or an increase in any existing conventional Bank financing feasible.