SOURCE: TCI Business Capital

TCI Business Capital

June 02, 2016 11:00 ET

TCI Business Capital Announces Preferred Pricing Accounts-Receivable Financing Program for Fort McMurray Post-Fire Restoration

CALGARY, AB--(Marketwired - Jun 2, 2016) -  TCI Business Capital announced today that it will extend preferred pricing accounts-receivable financing to companies involved in rebuilding Fort McMurray and its surrounding areas, damaged as a result of wildfires. Companies providing goods and services to be used as part of rebuilding efforts will be eligible for accounts-receivable financing at a lower-than-normal rate.

"The Fort McMurray wildfires have caused by some estimates nearly $10 billion in damages, and parts of the area will need to be rebuilt from the ground up," said Daniel Robbins, president of TCI Business Capital. "As this process begins, we know that companies will need working capital to pay for materials and labour. Offering preferred pricing accounts-receivable financing is one way we can help in these efforts."

TCI Business Capital clients provide goods and services for all phases of industry, from engineering and design to finishing and personnel, across Alberta and other provinces throughout Canada and the United States. TCI Business Capital has numerous clients located in the Fort McMurray area in industries that include timber products, oil and gas exploration, transportation, electrical contracting, clean-up, security and staffing.

"Our clients build, maintain and staff everything from roadways and pipelines to telecommunications networks and data centers," Robbins added. "We know the clean-up from the fire and restoration of Fort McMurray will be a huge and costly undertaking, and we want to let companies know we're here to help."

Accounts-receivable financing, also known as factoring or asset-based lending, is the selling of accounts receivables, or invoices, to a third party for immediate cash. These cash payments can then be used to improve cash flow.

TCI Business Capital is a privately held financial services company founded in 1994. The company has operations in Calgary and Burnsville, Minnesota, USA. TCI Business Capital provides a full range of business financial services including: accounts-receivable management, asset-based lending, collection services, credit analysis, factoring services, risk assessment, treasury and more. The company is proud to be recognized for its reliability, flexibility, responsiveness, innovative products, customer service and exemplary corporate citizenship. For more information visit TCI on the web at www.tcicapital.ca.

Contact Information

  • Contact:
    Bill Fuesz
    TCI Business Capital
    707 7 Avenue SW, Suite 1410
    Calgary, AB T2P 3H6
    (403) 592-5800
    (800) 881-9589