Payroll Factoring and Funding:
Staffing agencies have critical needs for steady and consistent funding. Payroll funding provides the infusion of capital and cash flow you need to manage your agency, meet payroll obligations, and continue to grow. In the staffing business, paying employees weekly and then waiting between 30-90 days for client payments can create difficult cash flow disruptions.
Factoring ensures that your agency will have the working capital needed for weekly payroll, business expenses, and other expenses you need as your agency expands.
There are a variety of situations that may strain your cash flow:
- Getting ahead of your cash reserves because your business is growing rapidly
- Seasonal employment needs of client job orders
- Slow paying Net 60 and 90 day receivables
Payroll funding is a specialty finance option tailored specifically for staffing agencies who need access to working capital.
There are several key benefits of using payroll funding:
Flexibility:
In the staffing business, your needs for capital are constantly changing based on your client job orders, and seasonal employment needs. Payroll funding is structured to give you the flexibility you need based on your volume, and ensuring the cash flow you need to meet your weekly payroll.
Reducing Credit Card Debt:
Many staffing firm owners utilize their own personal credit cards or cash to fund their working capital needs. Using credit cards to cover cash flow gaps can be stressful, and may incur the risk of paying high interest rates when a client pays late. Utilizing payroll funding removes these burdens.
Better Time Management:
Spend less time managing cash flow obligations and more time focusing on recruiting and sales that allow your agency to grow.
Our experts work to identify the most competitive solutions that provide you with the funds you need and eliminate the stress of waiting for client payments to arrive. Securing a dependable source for payroll funding is one of the most important aspects of operating a successful staffing agency.
We will review the funding contracts prior to your acceptance to ensure you are not locked into a one-sided, long-term contract that is nearly impossible to terminate.
We will work with you to identify the ideal resources you need, tailored to your agency’s specific business requirements. We provide staffing agencies with customized funding solutions that will empower your business and allow you to focus on growing your book of business and annual revenues.
We’ll discuss your needs, provide answers to your questions, and offer a funding program designed to meet your unique business requirements, and sustain your profitability.
These additional value-add services cost you nothing, and we consistently save our clients 10-20% over their current funding solutions.