To make matters worse, many temporary staffing companies have had to turn away lucrative business opportunities because they do not have the financial resources to hire additional staff and carry the costs until the customer pays their invoices. This payment disparity can create significant stress to the cash flow of the agency, especially if the agency does not have a large cash cushion in the bank. However, customers usually pay their invoices every 30 to 45 days. Why? Well, employees need to be paid every week or every 15 days for the work that they do. However, meeting payroll presents a constant and significant challenge to staffing agencies. We work tirelessly to connect our clients with the best staffing factoring company to meet their ongoing needs and goals.Meeting payroll is the highest priority for staffing agency and temporary staffing company owners, as they all know that a paid employee is a productive employee. Partner with a leading payroll factoring companyįactor Finders offers decades of experience with the complexities of the staffing industry and with the unique needs of small businesses. In addition, approval takes as little as 3 to 5 business days with little required paperwork and streamlined underwriting processes. Factors base their funding decisions on your customers’ financial strength, meaning your company can qualify even with poor or little credit. Unlike a loan, staffing factoring turns your accounts receivable into immediate cash you can use to cover your operating costs. The factor then collects payment directly from your customers and sends you the remaining 10-30 percent minus a small factoring fee. How does invoice factoring work for staffing agencies?Ī staffing invoice factoring company will purchase your unpaid staffing invoices and advance you 70 to 90 percent of their face value within 24 hours. Factor invoices and get immediate funding to cover payroll, take on new clients, hire top talent and expand your business.
When way say flexible payroll funding – we mean it!Ī growing business demands steady cash flowĭon’t let slow-paying customers curb your growth. With no minimum volume requirements, you can factor when you want, how you want, whom you want & for however long you want. Funding is fast, approval is easy and no set-up fees are necessary to get funding. Staffing factoring is one of the most popular forms of financing for temporary staffing and small business owners. Staffing factoring solves the cash flow crunch. Whether you are just starting up or you’re already well-established, staffing invoice factoring is the answer to funding payroll on time, every time.
Invoice factoring is a popular choice for the staffing industry because it provides unlimited funding that grows with your client base. Is your staffing business struggling due to slow-paying customers? Have you been turned down by traditional lenders? Invoice factoring helps staffing companies access fast funding by turning receivables into immediate working capital.įactor Finders offers a wide variety of funding solutions to help your staffing agency cover payroll and other business expenses. Are you waiting 30, 45 or 60+ days to get paid? Count on staffing factoring to turn your unpaid invoices into cash.
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