Payroll Funding in Florida
Are you struggling to pay your company’s bills because of slow-paying customers? Florida payroll funding can bring your cash flow back into the sunshine!
When your customers extend their payments for up to 120 days, it can seriously cripple your company’s ability to make payroll and cover other important expenses in time to avoid penalties that drive your operating costs even higher. Payroll financing through invoice factoring gives you the cash you need to keep your costs in check.
Unlike a small business loan, which can take weeks or months to process and often features a stringent list of criteria for approval, you can begin a payroll factoring relationship in as little as three to five business days with minimal paperwork. Approval is based largely on your customers’ credit history, so companies with poor or little established credit can still qualify. Also, payroll funding companies in Florida offer an unlimited amount of available cash that grows with your business rather than a fixed loan amount.
Payroll Financing is Flexible
The flexibility of payroll funding allows you to sell your invoices for cash when you need it instead of waiting for a scheduled disbursement or having to budget the full balance of a loan up-front. There are no minimums or maximums that you have to meet to factor your payroll, and no long-term contracts – so you can finance your payroll for only as long as you need. In addition, most factoring companies offer back-office support for collections and credit verification so you can get the best value for your money.
How Does Payroll Funding Work?
Once you are approved, the payroll financing process is simple for your Florida business:
- Invoice your customers as usual and send a copy to your Florida payroll factoring company
- The factor will advance you 70-90 percent of the invoice amount within 24 hours of verification
- Use the cash you receive to run your business as usual
- Your customers will pay the payroll funding company directly
- The factor will send you the remaining value of your invoices, minus their fees
Request a Free Online Quote!
Factor Finders can connect you with the perfect factoring company @ 855-322-8671
Florida Payroll Industries
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Factor Finders’ payroll financing experts can tailor an invoice factoring program to meet your immediate funding needs with industry-low rates and top-notch customer service. To get started,fill out our simple payroll funding application and we will match you with the best Florida payroll financing company for your business. Be sure to have copies of your customer list and the invoices you’d like to finance on hand.
From Miami and Tampa to Orlando and Jacksonville – if you’re a Florida business owner, you owe it to your company to see what Florida payroll funding can do for you. Don’t wait another moment; contact us today to get started!