Best Payroll Funding Company

What is Payroll Funding?

Payroll Loans for Small Business with Invoice Factoring

The Benefits of Payroll Funding or Payroll Factoring

What to Do if You Can’t Make Payroll? Payroll Finance Services for Small Business Funding

Can I Use Bankers Factoring for Payroll Finance for My Staffing Company?

Fast-growing business operating costs can be substantial. As a business owner, you know that Payroll and HR are costly and time-consuming. And if your cash flow doesn’t align with your expenses, this can worsen matters. Payroll can be your largest cost, and workers want to be paid on time. We understand that sick feeling when it is time to run payroll, and there is not enough money in your business banking account to cover cash flow and pay employees.

A bank loan is nearly impossible to qualify for to shore up your cash reserves, unlike our payroll funding solution, where we finance invoices to your credit-worthy customers with a low payroll factoring fee. Turned down for multiple small business loans? A small business line of credit from Bankers factoring to fund payroll is the answer based on your A/R.

Payroll Financing Solutions from Bankers Factoring

Bankers Factoring Company understands how many business owners have payroll needs. We can help with our payroll finance funds.

Small business payroll services financing from Bankers can get you over that weekly payroll hump. We can interface with whatever payroll software you use, and we are agnostic regarding our small business payroll funding and your choice of payroll service providers for small businesses.

We have partnerships with all the top full-service payroll providers, so pick the best payroll software provider while we give you the best payroll financing service. Combined, your company gets the best payroll funds solutions from one of the few award-winning factoring companies.

And if you can’t make payroll, you can violate the Fair Labor Standards Act (FLSA). FLSA violations can be quite severe and can put your business and you personally as the business owner in financial jeopardy if you don’t have the money to pay your employees. That is why turning your good accounts receivable via payroll funding into same-day cash in your checking account can help your business survive and thrive versus missed payroll issues.

Payroll Funding for Small Business Helps Cover Payroll

Payroll funding is a form of accounts receivable (A/R) financing specifically designed to help companies make payroll before they can collect on their aged A/R from their customers. A cash advance of up to 93% is available on your outstanding invoices to creditworthy customers. This is not just available to staffing companies, as Bankers are the payroll funding providers for many industries based on their creditworthy clients.

Whether you use Paychex, ADP, Square, or Newtek payroll services for small businesses, we can fund them directly for your company. And no matter what payroll service provider you choose to process payroll, we can fund your online payroll advance so you stay current on your payroll tax filing and tax laws. We want to be your funding payroll solution with your choice of a payroll service company. We get you fast working capital, and your payroll solution provider helps you with tax forms, HR support, garnishment payment service, and employee benefits.

Banks Loans for Payroll are Tough to Get for Small Business

Turn to Invoice Payroll Factoring

Through Bankers Factoring non-recourse invoice factoring, a local payroll funding company near you, you can turn 30 to 90-day-old invoices into ready cash. A funded payroll will ensure that you can pay your employees and taxes on time, even if your clients take up to 90 days to pay your invoices. If you are a staffing agency or staffing company, you know how critical it is to meet payroll when payroll processing is around.

We fund payroll when bank financing is not available for our clients. Don’t wait 30-60 days for your clients to pay you on your receivables.

Small business owners who were turned down for a bank line of credit or other loan options choose Bankers Factoring every day for their payroll funding option and other working capital needs even with a bruised credit score at a cost like a credit card interest rate. With bank interest rates at 11-12%, Bankers Factoring’s payroll funding rates are cost-effective even with a low credit score. Banks have stopped making small business payroll loans, so Bankers Factoring is ready to help with our payroll funding options and other financing solutions to improve your cash reserves.

You will like how payroll advance funding works at Bankers Factoring with our small factoring fee.

Payroll funding or invoice factoring finance helps business owners cover payroll without waiting 30-90 days for their customer’s payments. Payroll funding for small businesses is not a complicated process. With our online funding process, you receive working capital within 3-5 days versus the months waiting for a business loan approval from a bank. Small business loans from banks for payroll funding are turned down at a rate of 80-90%. We approve 90% of start-up small businesses needing payroll funding with good B2B or B2G invoices.

When you need help covering payroll, please consider us an alternative to bank loans and asset-based lending via our payroll invoice factoring services. Having the funds to pay employees in the staffing industry gives you that leg up you need to compete. No one understands your business better than Bankers Factoring regarding covering payroll, especially if you are a staffing agency or labor-intensive business.

With payroll factoring or invoice factoring from Bankers, you receive 80-90% of your invoice amount based on the customer’s credit quality. We are one of the few premier payroll factoring companies.

What is Small Business Payroll Funding?

Small businesses offering customers credit terms can finance payroll without borrowing or giving up ownership. Invoice factoring services provide staffing and payroll funding to startups, entrepreneurs, and small businesses needing immediate funds. Many staffing companies enjoy our low factoring fees as we meet their payroll and overhead business needs.

Instead of paying the bank monthly, you sell Bankers Factoring your unpaid invoices in exchange for fast liquidity. Accounts receivable (A/R) funding helps small business owners avoid lengthy funding processes and high variable interest rates. We also interface with all the popular small business payroll software for unlimited payroll runs. We will match your outstanding invoices to their cash value.

Bankers Factoring Company is a specialty payroll funding company for staffing companies and small business owners. It was founded to meet your financing needs. You will enjoy how payroll funding works at Bankers Factoring Company. As your dedicated payroll factoring company, we will manage customer payments and give you unlimited money to pay employees.

How does online payroll financing work for small businesses?

Improve small business cash flow by selling your invoices or invoice funding. Sell your accounts receivable (A/R) Bankers Factoring a payroll finance company and cover your weekly or bi-weekly payroll expenses. Business owners risk losing employees when they cannot cover their salaries and wages and meet weekly payroll obligations. Payroll funding fills the working capital gaps.

Cash flow is critical for payroll funds and expenses. Extending payment terms gives your customers a line of credit with you. Long payment terms cause issues in paying your bills during the 30 or 60 days to wait for invoice payment. Get advance payroll funding at Bankers through invoice factoring. Our steady cash and factoring credit line help you meet payroll obligations.

Payroll Loans for Small Business with Invoice Factoring

Small Business Payroll Funding via invoice factoring is a simple process, and the steps are as follows:

• Deliver goods or services to your credit-worthy customers.
• Submit an online funding application with a copy of your unpaid A/R invoices.
• Within 3 to 5 days, approval and funding will be received via wire on the same business day of account setup.
• An initial 90 to 93% cash advances are wired the same day into your company bank account.
• Special programs for staffing company and staffing agency accounts receivables.
• A dedicated payroll funding company for staffing companies and temporary staffing.
• Offer invoice terms to grow your business based on your customer’s credit history.
• Bankers factoring has minimal origination fees.
• A weekly replacement for the paycheck protection program.
• Receive the remaining open balance once the third party or your customers pay in full.
• Bankers Factoring, as your payroll funding company, settle your cash reserves fast with a wire into your business bank account.

Here is our complete guide to payroll financing with a payroll funding case study. Not paying your employees on time can ruin your business.

One of the few Award-Winning Payroll Factoring Companies

Many factoring companies limit their definition of Payroll Funding to financing staffing companies. However, we fund much more than just the staffing industry at Bankers Factoring. We can fund any company via finance invoices with B2B or B2G sales on Net 30-90 day selling terms, where labor is their highest cost of doing business, and they need fast money for employee payroll and tax services.

Our article on How to Apply for Payroll Financing is available to apply for our payroll finance services for small businesses. Our own unique process can get you immediate funds for a small fee.

How does payroll funding or payroll financing for small businesses via invoice factoring work?

Instead of waiting for customers to pay their invoices, you can sell them to an invoice factoring company like Bankers Factoring and receive 80-90% of the net face value. This provides you with a lump sum of up to 90% of the invoice value that you can use for payroll and other business costs.

You can receive the advance the same day we purchase your invoices. We offer about 97% same-day funding. With our high advance rate and financing solutions, you can pay your employees and grow your business. Forget the cash forecast and fix cash inflow problems at a cost cheaper than a business credit card.

In 30-90 days, once your customer pays the full amount of the invoice, the remaining 10% is then paid back to you, less any agreed-upon fees. Much like the initial advance, these funds are often released shortly after payment is posted and funds have cleared. Don’t stress about payroll tax payments with Bankers payroll factor financing.

Here is our in-depth article on how payroll funding works and making payroll problems and cash shortages a thing of the past. See how much Bankers payroll finance company advances against your unpaid invoices.

Is Your Company Experiencing Problems with Meeting Payroll because of this?

• Explosive revenue growth leads to cash flow problems.
• Were you turned down for a small business loan?
• Paying W2 employees or independent contractors payments is always a scramble.
• Payroll companies are pressuring you for money.
• Delayed payment from delinquent customers.
• Cash flow issues, so money for payroll services for small businesses is always tight.
• Trouble paying tax liabilities and contemplating pay cuts or missing payrolls.
• Long payment terms due to large Fortune 1000 customers paying in 45 to 90 days?
• A bank loan isn’t possible because of a thin balance sheet.
• A cash crunch due to unforeseen circumstances makes it tough to run payroll.
• Lack of capital is hurting business operations.
• A Dedicated funding service for small business owners.
• There is no emergency fund to pay employees and process payroll.
• Use any of the payroll processing companies to outsource payroll.
• The constant pressure as the business owner over cash flow issues with no business line of credit.
• You need a short-term and long-term payroll financing solution for cash flow problems.

What if I can’t make my Small Business Payroll?

If you use a third-party provider like ADP, Paychex, or Square payroll for your payroll services, you know they will ACH your business banking account every Wednesday for your Friday Payroll. Not having the money to run payroll is stressful; payroll financing fills that cash flow gap.

Call Bankers Factoring ASAP to have the money for your ADP run. We can fast-track your first Payroll Funding if you have solid, unencumbered B2B Accounts Receivables. Gather the following factoring application additional data and complete our online factoring application to meet simple employee payroll requirements for your organization.

Our in-depth article on what to do if you can’t make payroll is here. We want to help you match your pay period to your cash flows so your bank account never has cash flow issues. Using your good accounts receivable to pay your employees is safe and cost-effective with payroll financing nearby. Financing invoices is a simple process.

How much does small business payroll funding or payroll factoring cost?

Financing payroll costs your company no money upfront. Bankers Factoring takes from .9% to 1.6% per 30 days off your invoice’s face value or open receivables. Higher-quality customers with established credit and payment history help lower your rates. Sell more unpaid A/R via payroll funding to enhance cost efficiency, grow your monthly billable, and go from a cash shortage to a cash surplus in your business bank account.

Bankers has deep experience as a payroll factoring company that works with your payroll company of choice. When payroll loans for small businesses are tough to get at banks and credit unions, Bankers Factoring fills the payroll working capital gap with one of the more flexible types of payroll financing. The repayment term is not an issue as we fund against and collect your open invoices.

Will you fund the payroll for a startup staffing company?

Payroll funding was designed for startups and fast-growing small businesses. Bankers Factoring has and will fund startups if you have direct industry experience and no prior tax liens. Our two main criteria are the creditworthiness of your customers and your ability to treat us fairly and honestly. We were start-up business owners just like you, so we understand your pain and your inability to get a bank line of credit, and that is one reason we are the payroll finance company of choice for many entrepreneurs.

We also prefer that you use one of the third-party payroll services for back-office support, small business payroll processing, and tax filing. Bankers wants to be the best choice in payroll funding factoring for staffing companies, not payroll back-office services.

Common Payroll Financing Company FAQs

What are the advantages of using invoice factoring for payroll funding to meet your payroll needs?

The main advantage of selling invoices is the immediate funding to cover payroll. A good payroll financing company advances up to 93% against your creditworthy invoices. You will like how payroll funding works at Bankers Factoring company and the benefits of payroll funding for your staffing company. We finance payroll fast and cost-effectively to meet payroll.

Included in Bankers Factoring payroll funding services are the following:

• Bad debt protection: We cover bad debt expenses from customer default, bankruptcy, or short pay from protracted financial issues.
• A Total A/R Management Solution: We manage your receivables, collections, and customer credit checks.
• Special payroll funds for your staffing business to meet payroll obligations and payroll taxes without payroll loans.
• Ability to finance large sales or staffing contracts through your funding partner. Offer payment terms without a payroll loan.
• Have the money to meet payroll, pay payroll taxes, withholdings, health insurance, and workman’s comp.
• Based on your customer’s credit history and fast turnaround time, there are no payroll issues.
• Special funding programs for small businesses and independent staffing firms.
• Quickly releasing your reserve once the client pays for steady cash flow helps make payroll.
• Flexible funding lines with access to increased working capital from unpaid invoices.
• No lockbox fees, additional fees, or transaction fees with unlimited access.
• We provide credit protection and working capital; you choose from hundreds of choices for your full-service payroll service.
• Up to 93% of the invoice’s face value with a Bankers Payroll financing line.
• No factoring cost per employee at Bankers Factoring for your staffing firm when funding payroll.
• Online Payroll Processing, back office, QuickBooks payroll interface, and reporting.
• Programs for start-ups to mid-sized staffing firms to get you enough cash.
• Great customer service and payroll services to meet payroll from outstanding accounts.
• A startup staffing company payroll funding solution is your best and near-perfect solution.

How do I find a payroll funding service provider?

Trust and credibility are essential from your payroll funding company. Your business is relying on funding to pay employees on time. It is important to read your funding agreement and understand the terms and conditions for financing. Once we understand better, we can align the timing of your payroll funding with your payroll period to ensure both occur within one business day.

As a payroll funder, we work with various full-service payroll companies. We can introduce you to numerous third-party payroll options and their self-service HR tools for your staffing firm—startup staffing companies needing payroll funding repeatedly turn to us for payroll invoice factoring.

Can startups in the staffing industry qualify for payroll funding?

Business owners with 525+ FICO credit scores can secure working capital through invoice financing for payroll funds. Funding is based on the creditworthiness of your customers, who are responsible for paying open invoices. We fund startup businesses throughout the United States, from Hawaii to South Carolina, with our award-winning customer service. Unlike bank loans, your business can be a week old and qualify for payroll funding based on your customer’s credit score.

Please read our article on payroll funding for startup staffing agencies and how payroll funding works with Bankers Factoring as your funding payroll provider interfacing with your online payroll services software. Staffing owners and their employees receive a factoring equivalent loan amount based on your good B2B accounts receivable.

Payroll Funding and How It Works

How will Banker’s payroll funding impact my customers?

Invoice funding is quite common, and most customers are familiar with the process and the notice of assignment. Our team of experts works with your customers to ensure timely payment while you focus on operations. Working with a financing company shows you are serious about your cash inflow. You and your staffing company’s customers will enjoy Bankers Factoring’s famous light-touch financing programs for small businesses’ cash flow gaps.

How can I get started with Bankers as my Payroll Factor?

Fill out an online funding application to begin your financing journey. We will have you a payroll funding proposal within 24 hours, and within 3 to 5 days, our team will approve your staffing company funding line to fill in those cash inflow gaps with payroll invoice factoring. Remember, this is payroll factoring not based on your credit check but on the creditworthiness of your B2B and B2G customers.

How quickly does my company receive payroll funding?

Receive your money on the same day as your account is set up. We deposit funds directly into your account, avoiding the lengthy process and cash flow disruption associated with small business loans. Our financing option service provides a safety net and eliminates the stress of waiting for customer payments by offering a 90% advance rate on invoice face value.

Is payroll financing or payroll funding available to start-up staffing agencies?

Staffing Agencies benefit from selling invoices to cover wages. Recruiting firms require robust pay plans and resources to attract elite talent. Gain a competitive advantage through your financial strategy that covers all your expenses. Bankers Factoring has a robust staffing factoring company program with many financing options, including high advance rates and low factoring fees. When traditional lenders or an FDIC member bank say no, Bankers payroll invoice factoring says yes with payroll financing for you and your team of employees to cover your largest business expenses.

What will my customers think about a Payroll Funding Company through invoice factoring?

Since large companies are borderline abusing their small vendors by taking 60-90 days to pay, they should be grateful that you have unlimited working capital based on their credit and good A/R, with zero cost to them. In addition, Bankers Factoring verifies they are happy with your people and services. Credit is not an issue with our non-recourse payroll funding, unlike other payroll funding providers for the staffing agency industry.

Our client’s customers often refer us to their other vendors needing working capital to make them stronger financially and a better provider of services. They would only do so if they appreciated our professional dealings with them and the famous Bankers Factoring light touch. Factoring staffing invoices and not waiting for customer payments will increase your financial health with fresh funds to keep your employees happy.

Non-Recourse Invoice Factoring Gives You Payroll Funding for Staffing Companies

As a staffing agency owner, when traditional lenders don’t provide payroll funding or options, Bankers can offer unlimited working capital based on your B2B or B2G outstanding invoices. Small business owners rejected for payroll loans rely on Bankers for payroll factoring financing to meet staffing companies and temporary staffing payroll obligations as their financing solution.

The payroll funding process gives your business the working capital it needs, plus the safety of credit protection. We know you have choices regarding payroll funding companies, and we want to be your payroll factor funding provider. As a small business owner in the staffing industry, don’t let your hard work go to waste. We will worry about when your client pays your outstanding invoices for temp employment agencies. Making payroll worries are a thing of the past with our payroll funding options.

Payroll Loans for Small Business with Invoice Factoring

Award-Winning payroll funding services

Let Bankers Factoring Company be your non-recourse payroll funding provider. You will like how payroll funding works with us as your number-one funding option for staffing companies and have the monies to cover payroll. Our clients never stress over lack of funds with our 90% cash advance rate, easy payment processing, and dedicated account manager. You will like how Bankers Factoring treats you, your clients, and your people.

With our payroll funding options, you care for your people. Bankers Factoring is responsible for the working capital to pay employees with our factoring cash advance as your payroll funding provider.

With your staff and team as your greatest asset, never stress about missed paychecks for employees with payroll financing from Bankers Factoring. Enjoy payroll invoice factoring as it should be to have the monies for payroll taxes and pay your employees with our financing options—without equity partners or balance sheet debt.

Since the paycheck protection program has ended, invoice factoring has been one of the best alternatives to payroll loans. Let Bankers Factoring fund your small business payroll with our fast payroll loan application process.

Ready for the owner-employees of Bankers Factoring Company to fund your entrepreneurial dreams via payroll funding? Call 866-598-4295 or go to Bankers-Factoring-Application.

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