Factoring Staffing Invoices for Easy Payroll Funds
How Can Your Staffing Agency Benefit from Factoring?
Waiting for payment from staffing clients is a little like waiting in line at the doctor’s office; it takes forever, you’d rather be doing other things, and if takes longer than you expect, the consequences can be dire.
There’s really no way to eliminate the wait at the doctor’s office, but luckily there is a way to speed up the payment process from staffing clients without shortening their credit terms. That process is factoring staffing invoices, also known as staffing factoring or staffing funding. Staffing factoring is where the staffing company sells their unpaid receivables for immediate cash, and their client pays the factoring company directly.
Ready to Get Started?
Fill out the form below and one of our factoring experts will help you on your way!
Get an invoice factoring quote for your staffing company here!
Staffing Cash Flow Problems
Due to the nature of the industry, staffing agencies often wait long stretches of time to be paid. The work is done, staff needs paid—but the money is tied up in accounts receivable. Waiting 30-120 days is a nuisance for large companies, but normally they can cover their expenses in the meantime. For smaller companies, however, waiting might not be an option. Because they would have to wait for bank loan anyway and might not even qualify in the first place, they must turn elsewhere for financing.
Benefits of Staffing Factoring
Invoice factoring is a viable option for staffing companies who don’t have the luxury of waiting for slow paying customers. By factoring staffing invoices, staffing agencies can enjoy many benefits, including:
- Cash within 24-48 hours of request
- Expenses always covered
- No debt added
- Flexible contracts
And the list goes on. There are many reasons for staffing companies to start factoring unpaid invoices. Those who factor are reaping the benefits already…. so don’t wait any longer!
Why a Factoring Broker?
Many factors will say that they can factor any deal, but the truth is that sometimes a specialized factor is needed depending on the industry. The benefit of going through a factoring broker like Factor Finders is that we match clients with the most appropriate factor for their staffing needs.
Get the funding you need for your Staffing Company.
You could receive cash as soon as today! Call us at (216) 292-5660.