Government agencies rely heavily on civilian contractors to fill staffing positions. While these contracts can be lucrative, budget disputes and other government issues can delay payments. Eliminate payment uncertainties and secure ongoing cash flow with Factor Finders’ government staffing factoring program!
Government Staffing Factoring
If your company provides staffing for government positions, waiting for payments can limit your ability to fill other contracts and meet your daily operating costs. Factoring your government staffing invoices closes the gap without creating new debt.
How Does Government Staffing Factoring Work?
You can factor government contracts without changing the way you do business. Fill staff assignments and invoice the agency as usual, then send a copy of the invoice and backup documentation to the factoring company.
Once the factor verifies that work has been completed, they will advance you up to 90 percent of the invoice value! A funds transfer is initiated within 24 hours; depending on the terms of your factoring agreement, the transfer will be same-day or next-day.
The factor will send you the remaining invoice amount, minus their fee when they collect on the invoice. In the meantime, you can continue providing staff and submitting invoices for factoring as often as you need to maintain your cash flow. The factor will pursue collections with the government agency on your behalf and will process payment of your open invoices.
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Why Should a Company Factor Government Staffing Invoices?
There are a number of reasons to choose government staffing factoring over other funding alternatives:
Factoring is easier to obtain than a bank loan: To qualify for a traditional loan or line of credit, you must present perfect or near-perfect credit and meet a number of other stringent criteria. In addition, you will likely be required to offer collateral. Not so with government staffing factoring! You can be approved in as little as 3 to 5 business days with fewer documents, imperfect credit, and no collateral.
You have unlimited funding potential: Because factoring is tied to your sales, you can receive more funding as you present more sales! The factoring model is perfect for government staffing companies that want to grow but lack the necessary working capital to do so.
Avoid new debt and eliminate current debt: Government staffing factoring is not a loan, merely an advance on money you are already owed. By avoiding new debt on your balance sheet you can prevent dragging down your credit score; in addition, when you pay down current debt with the funds you receive from factoring you can improve your credit score for future financing.
Gain access to time- and money-saving support: Your factoring company will do more than advance money on your government staffing invoices. Their collections efforts will allow you to focus on other areas of your business. Navigating the payment systems of many government agencies is complex and time-consuming, but government staffing factoring companies are experts that will get positive results.
Credit and background verification, meanwhile, is an expensive but necessary step to verify that your clients remain in good standing. Your factor will provide these services as part of your agreement, saving you a great deal of time and money.
Get a Free Staffing Factoring Quote Today!
Call us @ 855-322-8671 for more information
Factor Your Government Contracts for Any Agency
We provide factoring for companies that provide staff to a wide variety of government agencies, including:
- USAF active-duty and National Guard bases
- Department of Veterans Affairs
- Centers for Medicaid/Services
- Army Corps of Engineers
- Transportation Security Agency
- Department of Defense
- Department of Energy
- National Institute of Health
- Department of Homeland Security
- Missile Defense Agency
- Federal Aviation Administration
Learn more about how to select a factoring company for your staffing firm.