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Payroll Funding
Staffing agencies commonly use payroll factoring, also referred to as payroll funding, as working capital financing to fill gaps in cash flow. Temporary staffing agencies have inherent cash flow crunches caused by delays in invoice collections yet needing to pay employees or contractors sooner. Payroll factoring pays you up-front for your services, so you can pay your staff on time.
- Nurse staffing
- Physician staffing
- Home health
- Locum tenens
- Information technology
- Help desk staffing
- Software developers
- Network engineers
- Administrative staffing
- Clerical staffing
- Janitorial services
- Security services
- Food service staffing
- Industrial staffing
- Assembly staffing
- Warehouse staffing
Immediate Cash
Payroll funding improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. You get the cash quicker so you can pay your employee salaries or contractor payments.
Focus on Strategic Growth
You can focus on providing top quality services to your clients and making strategic decisions, rather than dealing with the administrative tasks associated with staffing and payroll. Grow your business and take on more projects.
Administrative Services
Some payroll funding companies offer additional services such as back-office support, payroll services or billing services. These benefits are often included with your factoring services.
Fast Approval
Staffing factoring companies can approve your factoring application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process.
