Payroll Funding in New York
Payroll funding companies are helping business owners in the Empire State thrive. New York is a blend of economic forces that make it the third most productive state in the country, from farms and vineyards to manufacturing plants and, of course, the financial capital of the United States. Whether you are paying factory workers or wealth planners, New York payroll funding closes the gap between the money coming in and the money going out.
Why Work with a NY Payroll Funding Company?
Regardless of your industry, it is essential to your company’s survival that you be able to disburse your payroll when your employees expect it. However, if you are waiting anywhere from 30 to 120 days for your customers to pay their invoices then meeting payroll and other expenses can be incredibly difficult.
Payroll financing through factoring turns your open receivables into immediate cash that you can use to pay your employees, purchase supplies, and invest in growing your business. The approval process is simple: submit an application along with copies of your open invoices and a current customer list, and one of our payroll factoring experts can get you started!
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New York Companies Benefit From Payroll Funding
There are many benefits to choosing New York payroll funding as an alternative to a conventional loan:
- No limit to how much you can finance! While you are only approved for a set credit line through a bank, your only payroll financing limit is how much you are selling! Your factoring company will increase purchases of your approved and verified accounts as you increase the amount you are selling to them.
- Back office support, including credit verification for your customers and collections on open invoices. Most banks do not offer that level of service to their customers, but using a payroll factoring company allows you to get the most value for your money.
- Build your company’s credit instead of creating new debt. Payroll financing decisions rely on your customers’ payment and credit history, so even if you have poor or unestablished credit you can get approved. Then, use the cash you receive to pay your bills on time and build your credit rating for future purchases.
- Receive funds within 24 hours of verification. Your payroll factor will deposit funds into your account within 24 hours of entering and approving your invoices.
Start Funding Payroll Today!
Call us today @ 855-322-8671 for a free quote!
Payroll Funding for Nearly Every Industry
Factor Finders’ New York payroll financing partners are experts in a variety of industries, including but not limited to:
Trucking & Freight