Payroll Funding for Staffing Companies

Payroll Financing for Staffing Companies

Staffing companies are one of the economic bright spots in almost all US industries. Staffing companies equip employees with high-demand occupations, from healthcare nursing to IT programmers, from oil patch workers to freight drivers.

Payroll Funding for Staffing Companies can be an exceptional solution, especially when your clients are slow-paying. Traditional banks may not always match the working capital needs of these staffing agencies. As a result, accounts receivable financing companies step in to assist.

Doing business as a staffing agency can be costly. If you add in client payment terms of up to 90 days, then it is almost unlikely to have constant cash on hand. Aside from payroll, costs also include taxes, overhead, and many more. Most staffing businesses need money before the 90-days payment term is up.

Factors can provide you with a stress-free solution. Factoring companies can help you acquire funding in 24 hours and give you the freedom to focus on growing your staffing agency. As a factoring company, they provide funding payroll solutions to ease the staffing company’s payroll needs. Also, factors help these firms grow and thrive through AR Management and Credit Protection. Thus, additional funding helps reducing cash flow problems and makes recruiting more manageable.

Why Payroll Funding for Staffing Companies?

You are waiting 90 days for your clients to pay means no cash flow. In this situation, the most significant concern every staffing agency is “How to get an advance for my staffing company?”. That is where factoring companies come in. Accounts Receivable factoring companies like us help provide financing for payroll needs. Factors help you get the funding desperately needed to keep a business open and employees paid. Aside from that, they can also help your staffing agency to grow and thrive through AR Management and Credit Protection.

Constant Cash Inflow

The next contract is always around the corner, and money is essential for funding. If you do not have enough cash flow and working capital, then another agency may grab the opportunity. It can limit your company’s growth and expansion. Thus, constant cash inflow is very crucial for staffing companies. Without cash flow and working capital, you are left with very little room to take advantage of the countless opportunities that come your way.

How Does Payroll Funding Work?

With Payroll funding, many concerns can be addressed quickly as Payroll Funding provide funds the same day you issue your invoices.

What are the issues addressed with Payroll Funding?

Say Goodbye to Debt

Payroll funding through AR factoring will not require you to take on any additional debt. You sell your creditworthy invoices at a discounted price. You will not have to pay back the advanced amount, which can be up to 90% of the total amount. The remaining 10% will be returned to you less the financing fees that you agreed upon with your Factor.

Pay Your Bills Promptly

You will not have to worry about late fees and bank penalties anymore. All your bills can be paid on time (or even early) because you will not have to wait 30-90 days to get your hands on cash. If you have creditworthy customers, then you can issue invoices, and we will factor your account receivables.

No More Delayed Payrolls

Timely payrolls guarantee satisfied employees. If you have satisfied employees, then you will have the workforce to provide the businesses you cater to. Receivable Factoring can help assure that you will always have cash available instant working capital. Receivable Factoring will lead to having a cash flow to fund payroll, pay bills, and pay the debt.

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Whether you are the employer of record or use a Professional Employer Organization (PEO), our non-recourse invoice factoring program provides critical funding for staffing companies. There are no minimum monthly revenue requirements. Also, as little as in 4 hours (once set up), an agency can receive up to 92% of the net invoice. That is huge! Staffing companies can be waiting for hundreds of thousands of dollars that they desperately need. We are here to assist in getting the business capital when they need it.

How does a Staffing Company Qualify Credit?

Qualifying for Staffing Company Payroll Funding is straightforward. We do not care if the staffing company is a start-up or has been doing business for years. We also don’t need to know your credit history. For as long as your staffing company has a valid receivable to creditworthy customers, we can fund! We love high growth situations. If you can bill it, then we can fund it. We welcome your staffing company’s growth. We will assist your company in getting their invoices paid courteously and professionally.

Payroll Funding through non-recourse accounts receivables factoring, you can meet your urgent financial needs without gaining additional debt. To sum up,

The Benefits of Invoice Factoring are:

• Up to 92% upfront payment
• We welcome Start-ups and small companies
• Same day funding-receive funds in 24 hours
• Leverage your accounts receivables
• Fast access to cash and continuous working capital
• Flexible, negotiable terms
• Reasonable service fees
• Professional receivable management and industry experienced
• Get funded based on your clients’ creditworthiness, not on your credit
• Provides back-office support
• Factoring is not a loan, meaningless debt on your balance sheet
• Funding grows as your receivables grow
• You pick and choose what invoices you want to be factored.

With Our Simple Steps & Fast Process, Get Your Staffing Company Payroll Funded Today!
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