Staffing Agency Factor Financing Gives You Payroll Financing
Temp Agency Financing from Bankers Factoring
Same-Day Staffing Company Finance Plus Bad Debt Protection
Table of contents
- Staffing Agency Factor Financing Gives You Payroll Financing
- Same-Day Staffing Company Finance Plus Bad Debt Protection
- What are Staffing Agency Financing options?
- What are the advantages of Factoring Financing for Temp Agencies?
- Advantages of Staffing and Temp Agencies Factoring:
- How does AR Factoring Work for temp agencies?
- What Types of Staffing and Temp Agencies Can Receive Funding?
- How to Qualify for Staffing Factoring Financing?
- Staffing Company Funding Qualifications are:
Staffing Agency Financing Summary
Staffing Agency Factoring Financing provides a payroll funding source and cash flow facility for the not-yet bankable staffing business. In addition, Temp Agency Financing is an easier funding path than traditional financing, especially for startup staffing agencies needing funding to meet payroll and entice the most qualified candidates.
Staffing Factoring services also grow agencies without balance sheet liability with the added plus of bad debt protection. Temporary staffing companies can target 60-day pay term customers who want a higher skill set of people. We can finance staffing agencies out to 90 days based on your staffing firms outstanding accounts receivable.
Read our article on How to Start and Finance a Staffing Agency and receive a factoring business line of credit for your staffing firm. Turned down for a bank loan? We are your funding partner for startup temp agencies with critical cash flow needs for the business owner throughout the United States with non-recourse staffing factoring company.
Staffing and Temp Agency Factor Financing Gives You Payroll Funding
Is weekly payroll hurting your cash flow? Lacking the working capital for payroll funding requires a business financing solution from the best invoice factoring company. Thus, Accounts Receivable (AR) Financing is an alternative business funding solution for Staffing Agencies with large weekly payrolls. Staffing and Recruiting firms can secure cash flow financing through invoice factoring, a form of AR Financing.
Staffing agency factoring can help business owners with the capital funding to grow their businesses. So, avoid the traditional bank financing process with our quick and easy approval process. Finance your Staffing company with accounts receivable financing. Additionally, payroll funding is easy with the Best Staffing Factoring Company.
Delayed payments do not have to stall your business performance. Managing finances between customer payments and weekly payroll funding can be challenging, but the cash flow constraints caused by extended payment terms can go away with Staffing Agency Factoring Financing for staffing companies and recruiting agencies.
What are Staffing Agency Financing options?
Many startup Staffing companies do not have the financial reputation, credit, and collateral to obtain traditional business financing. But staffing agency financing for the not-yet bankable firms is possible through invoice factoring payroll funding. That’s because Staffing Agency Factoring Financing secures working capital quickly for firms lacking the cash to meet weekly payroll.
So, contact our Staffing Agency Factoring Financing team today if your firm struggles with payroll funding or general agency cash flow issues. We can work together to develop a customized staffing agency financing plan that supports business development and sales growth.
Common types of traditional staffing and temp agency financing for not-yet bankable firms:
- Small Business Loan: The Small Business Administration (SBA) provides government-secured loans to specific lenders. This is an option for the bankable entrepreneur willing to undergo the months-long underwriting process. Temp agency loans are not easy to qualify for.
- Unsecured Business Loan: Short-term financing solution for companies with established financials. Rates for lines of credit are frequently not favorable for the borrower.
- Merchant Cash Advance: Costly short-term business financing in exchange for future sales based on a fixed percentage. Merchant Cash Advances (MCA) can be risky for the startup staffing agency.
What are the advantages of Factoring Financing for Temp Agencies?
Staffing Agency Factoring financing provides a risk-free transaction with immediate funding. In fact, Bankers Factoring, a factoring company, takes on the credit risk when we buy your unpaid accounts receivables. In addition, our quick application and funding process delivered working capital to your bank account within one to two weeks.
Advantages of Staffing and Temp Agencies Factoring:
- Bankers Factoring takes credit risk for your customerโs potential bankruptcy, insolvency, or protracted slow payment.
- Designed for the not-yet bankable business. Staffing Agency Factoring is startup-friendly.
- The quick and easy approval process with funds disbursed within 3-5 days.
- Flexible financing solution that is not a liability on your balance sheet.
- Staffing Factoring provides access to unlimited working capital based on your business needs.
- Not based on your credit score but on your large customer’s DNB score.
- Always have the funds for employee payroll with staffing payroll funding lines of credit.
Thus, complete an online funding application today if your staffing agency has trouble securing cash flow financing.
How does AR Factoring Work for temp agencies?
Staffing Agencies extend credit terms to their customers, which causes delays in payment for services rendered. But startup staffing agencies with limited working capital cannot keep up with weekly payroll funding. Therefore, AR Factoring Financing removes the burden of cash flow shortages by accelerating the receivable period with same-day financing.
Staffing AR Factoring Finances is a quick process with two cash disbursements:
- Staffing Agency submits an online funding application.
- Bankers Factoring conducts due diligence and reviews vendor agreements.
- Bankers Factoring cash advances up to 93% of the total invoice amount.
- Bankers Factoring disburses the remaining invoice balance, less our small factoring fee, once the customer (account debtor) pays the invoices.
Learn more from our previous article The Best Payroll Funding Company for staffing companies.
What Types of Staffing and Temp Agencies Can Receive Funding?
Staffing Agency Factoring Financing is a universal solution for staffing and recruiting company payroll funding financing. Some of the typical clients we have in the staffing industry include:
These are just some of the industries we work with. Any staffing agency can receive factoring financing with unpaid invoices from a commercial customer.
Learn more in our previous article, โPayroll Funding with Staffing Factoring Financingโ to have the monies for payroll taxes and employee payroll to fund your staffing services.
How to Qualify for Staffing Factoring Financing?
The qualification process is pretty simple for Staffing Agency Factoring Financing. The main criteria are the creditworthiness of the staffing company customer; this entity is the account debtor. In addition, the invoices need to be unencumbered, meaning no other party has a lien on your business assets.
The final qualification for staffing factoring financing is providing business and financial documentation for the complete application. Bankers Factoring validates and verifies your invoices with the account debtor during the last funding step.
We also have special funding programs for temp staffing and nurse staffing agencies.
Staffing Company Funding Qualifications are:
- Creditworthy customer with strong credit and payment history
- No liens on the invoices – unencumbered invoices
- Required documentation, which includes invoice validation
Payroll Funding and Invoice Factoring for Staffing Agencies
Staffing Agencies are in high demand to attract highly qualified talent for their customers who need it. A staffing company risks losing some of its significant assets when it cannot cover weekly payroll. Invoice factoring for staffing agencies ensures you have the cash flow to handle payroll, grow your sales, and manage your finances.
When a staffing agency sells its outstanding AR invoices for working capital, funding can be used for any business expense. Typically, your most significant expense is payroll as a staffing and recruiting agency. Payroll funding with invoice factoring financing removes stress for business owners. It allows you to keep critical talent and never experience payroll funding issues with our staffing factoring. Always have the money to meet your payroll obligations with staffing factoring.
Bankers Factoring for Staffing Agency Funding
Staffing factoring is the answer to cash flow struggles. Payroll funding injects working capital into staffing and recruiting companies lacking the financial strength to grow their business. Staffing invoice factoring finance creates a consistent cash flow funding plan versus waiting for customers to pay. The fear of losing talent from lack of financing can go away with temp Agency Factoring financing from Bankers.
We are excited to be your number one financing option and award-winning payroll funding provider for your staffing firm. Please choose Bankers Factoring as your staffing factoring company to meet your payroll obligations.