Payroll Funding for Staffing Agencies & Small Businesses
Are you short on cash and often worried about funding your payroll? We know it’s not easy for a new or growing businesses to secure funding. If you need money for payroll, there’s a simple solution. Payroll funding, also referred to as invoice factoring, is an easy way to transform your cash flow by providing instant funds for outstanding invoices. Invoice factoring allows a factoring company to purchase your unpaid invoices and advance you anywhere from 70-95% of the invoice amount. The best part? We can help you access payroll funding within 24 hours.
What is Payroll Funding?
Payroll funding is a common form of funding for staffing agencies, but can be used by almost any small business with B2B clients. Covering payroll is a familiar concern for businesses of all sizes and stages. Employees may be paid weekly, but customers may pay their invoices 30, 45, 60+ day terms. Payroll funding companies help bridge the gap in cash flow between the time you provide your services and the time your customers pay.
Don’t let slow paying customers affect your business. Payroll factoring ensures you’ll get paid right away for your services. A payroll funding company purchases your invoices and advances your business up to 95% of the cash—immediately. Once you’re approved for funding you can receive your cash in as little as 24 hours. Use this extra capital for anything you’d like whether it is to pay staff, purchase new supplies, hire new employees or anything else to help your business grow.
Temporary Staffing Agency Funding and Additional Staffing Services
Find payroll funding services specifically designed to meet the needs of your staffing company. If you own a start-up staffing company or one that’s growing quickly, optional administrative and back office support services are available to reduce your overhead costs and allow you to focus on more important elements of your temp staffing firm.
- Billing & collections
- Payroll processing
- Tax preparation
- Accounting services