Payroll Funding for Staffing
Increase Your Staffing Agency Revenue With Payroll Funding
Higher advance rates.
Always meet weekly payroll.
Obtain funds easily and quickly.
Custom solutions tailored to your business needs.
Access to unlimited reliable capital.
Flexible solutions that scale with your business.
Professional and knowledgeable team.
DISCOVER IF PAYROLL FUNDING
IS RIGHT FOR YOUR Staffing Agency
Payroll funding for staffing agencies is a financing option that can be particularly beneficial for businesses in the temporary staffing industry. This option involves using outstanding invoices from clients to secure a loan that covers the cost of payroll for temporary staff.
Improved cash flow
Temporary staffing companies often face cash flow challenges due to the long payment terms associated with the industry. By using payroll funding, companies can access cash based on the value of their outstanding invoices, allowing them to improve their cash flow and meet their payroll obligations on time.
Reduced administrative burden
Managing payroll for temporary staff can be a time-consuming and resource-intensive process. By using payroll funding, companies can offload this administrative burden to the lender, who will handle all aspects of payroll management and collections. This allows companies to focus on their core business activities, such as recruiting and placing temporary staff.
Easy qualification
Qualifying for payroll funding is typically easier than qualifying for traditional bank loans. Lenders will typically look at the credit worthiness of the client, rather than the creditworthiness of the temporary staffing company. This means that even companies with less-than-perfect credit can qualify for payroll funding.
No need for collateral
Payroll funding does not require collateral beyond the outstanding invoices owed by clients. This can be particularly beneficial for temporary staffing companies that may not have a lot of assets to use as collateral.
Customizable terms
Payroll funding offers customizable terms, allowing companies to choose the repayment schedule and terms that work best for their business. This can be particularly beneficial for temporary staffing companies, which often have unique cash flow needs.
Access to working capital
Payroll funding can provide access to working capital, which can be used to fund the day-to-day operations of the business. This can include paying staff, purchasing equipment, and covering other expenses.
Improved credit rating
By using payroll funding and making regular payments, temporary staffing companies can improve their credit ratings over time. This can make it easier for them to access other financing options in the future.
Payroll funding can be a powerful financing option for temporary staffing companies. It provides improved cash flow, reduced administrative burden, easy qualification, no need for collateral, customizable terms, access to working capital, and improved credit rating. If you are a temporary staffing company looking for a way to manage your cash flow and improve your financial health, payroll funding is definitely worth considering.
