Grand Financial

H

Henry

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Apr 2, 2017
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I have been approached by Grand Financial. They seem to be professional although we are not yet at a stage that we want to use a factoring company yet. I hope this helps.
 
Highly recommended !!

Good easy-to-use online pay tracking, friendly staff. Has been with them over a year so far.
Way better than many others.
 
A bit off topic, but I'm curious...how important is it to carriers that their factor be local? In this day and age of electronic everything, I would think being local is less important than it once was.
 
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I've known Grand for a long time.. and being a broker, we see 2 - 3 invoices each day come in from various carriers using Grand to factor their work .. you won't have any issues with them !
 
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Alex Damashin. He was ok to deal with. He is a collector at Grand Finances
 
I am hearing from several people that some the the Toronto factoring companies are merging. Has anyone heard this?
 
KeyFactor said:
A bit off topic, but I'm curious...how important is it to carriers that their factor be local? In this day and age of electronic everything, I would think being local is less important than it once was.
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I agree ... you would think that with today's tech, location wouldn't be so critical. However, if you have to go and knee-cap the SOB, a short travel time is pretty important.
 
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Horrible experience with them 4 years back. They will say no contract nothing, but when you want to leave them they will not give you letters. Beware. I recommend going loads for companies that offer quick pay. 3%. And that the deal grand financial will give you. So man brokers do quick pay. Use that. Don't get in contract with third party. When you Want to leave or stop factoring. You will go thru hell.

I stop factoring my invoice. Then suddenly my check from broker went straight to grand financial. Hard to get your money.

They are doing lot of sales call now. I just ignore. If you need more info or a proof pm. I have all the emails
 
It had always been my understanding that as long as your account with a factoring company is clear and up to date, there should be no reason why they wouldn't offer a release letter to your customers. I mean if for some reason you owed them money, then they are not going to issue a release.
 
loaders said:
It had always been my understanding that as long as your account with a factoring company is clear and up to date, there should be no reason why they wouldn't offer a release letter to your customers. I mean if for some reason you owed them money, then they are not going to issue a release.
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I have a non-transport client that was offered a line of credit from a bank last week to replace my factoring facility. As soon as the client informed me of his desire to take advantage of it, we conferenced in the banker to outline how to make it happen. His account has some issues, but we discussed how to resolve them and facilitate his move to the bank. I hope everyone has this type of relationship with their factor, but the key here is that the client and I each understood our obligations and worked transparently and collaboratively with each other.
 
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Would it be safe to say key factor, that a release letter would not be issued if your client still owed you money?
 
There may be funds that are still owed???? You would not obtain a release until all the invoices/ debts are paid to the factoring company.
 
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