Staffing Agency Factor Financing Gives You Payroll Funding
Same-Day Staffing Company Finance plus Bad Debt Protection
Staffing Agency Factoring Financing provides a payroll funding source and cash flow facility for the not-yet bankable staffing business. Factor Financing is an easier funding path than traditional financing, especially for startup staffing agencies needing funding. Staffing Factoring grows agencies without balance sheet liability with the added plus of bad debt protection.
Staffing 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. 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 business. Avoid the traditional bank financing process with our quick and easy approval process. Finance your Staffing company with accounts receivable financing. 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. The cash flow constraints caused by extended payment terms can go away with Staffing Agency Factoring Financing.
What are Staffing Agency Financing options?
Many startup Staffing companies do not have the financial reputation, credit, and collateral to obtain traditional business financing. Staffing agency financing for the not-yet bankable firms is possible through invoice factoring payroll funding. Staffing Agency Factoring Financing secures working capital quickly for firms lacking the cash to meet weekly payroll.
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 agency financing for the 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.
- Unsecured Business Loan: Short-term financing solution for companies with established financials. Rates 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?
Staffing Agency Factoring financing provides a risk-free transaction with immediate funding. 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 Agency Factoring:
- Bankers Factoring takes credit risk for your customer’s potential bankruptcy, insolvency, or protracted slow-pay.
- Designed for the not-yet bankable business. Staffing Agency Factoring is startup-friendly.
- Quick and easy approval process with funds disbursed within 3-5 days.
- Flexible financing solution that is not a liability on your balance sheet
- Factoring provides access to unlimited working capital
Complete an online funding application today if your staffing agency has trouble securing cash flow financing.
How does AR Factoring Financing Work?
Staffing Agencies extend credit terms to their customers, which causes delays in payment for services rendered. Startup staffing agencies with limited working capital cannot keep up with weekly payroll funding. 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 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 in our previous article, “The Best Payroll Funding Company.”
What types of Staffing 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. Virtually any staffing agency can receive factoring financing with unpaid invoices from a commercial customer.
Learn more in our previous article, “Payroll Funding with Staffing Factoring Financing.”
How to Qualify for 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 piece of qualification for 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.
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 virtually 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 critical talent never to experience payroll funding issues.
Bankers Factoring for Staffing Agency Funding
Staffing agency factoring is the answer for cash flow struggles. Payroll funding injects working capital into staffing and recruiting companies lacking the financial strength to grow their business. Staffing agency factoring financing creates a consistent cash flow funding plan. The fear of losing talent from lack of financing can go away with Staffing Agency Factoring financing.