IT Staffing Factoring Can Help Your Business Grow!
Demand for IT temp staffing is growing faster than ever – if you specialize in technical staffing, do you have the working capital necessary to keep up and grow your business?
If your IT staffing firm is struggling to cover payroll and other expenses because of slow-paying customers, there is a cash flow solution in sight! IT staffing factoring with Factor Finders can help you access the money you need to keep your payroll funded and thrive during even the slowest times of the year.
What is Factoring for IT Staffing Firms?
Staffing factoring is a financing alternative that uses your open invoices to generate cash. Simply send copies of your open invoices to the factoring company, which will advance you up to 90 percent of their value up front! When your customers pay, the IT staffing factor will send you the remainder of the invoice amount minus their fees.
Simple Funding for Tech Staffing
Our payroll factoring services for IT staffing agencies can get you the cash necessary to grow and prosper. Opportunities in tech staffing are plentiful. Isn’t it time you took full advantage of the booming tech market?
Businesses turn to IT staffing agencies to offset high costs of permanent employment, but often take up to 90 days (and sometimes longer) to pay their invoices. When you choose IT staffing factoring to close the gap, you can take back control of your business.
How Invoice Factoring Helps the IT Staffing Industry
There are numerous benefits for staffing agencies, all of which are designed to provide a solid foundation on which your staffing agency can grow.
Fast approval without extensive credit checks
Unlike banks and traditional lenders, factoring companies do not require proof of collateral or a lengthy credit history to approve you for IT staffing factoring. Most funding decisions are based on your customers’ creditworthiness, which can help companies with little or no credit history to qualify, and you can be approved in as little as 3 to 5 business days!
Immediate funding upon verification
Once you begin factoring your IT staffing invoices, the factoring company will initiate a deposit into your account within 24 hours of verifying your invoices. There is no need to wait days or weeks for the cash you need now.
Finance your IT staffing invoices without creating debt
IT staffing financing is not a loan, so it will not create debt on your balance sheet. In fact, by using the funds you receive to pay off old debts and cover your expenses on time, you can build your company’s credit by factoring your IT staffing invoices.
Greater flexibility and control over operating costs
You don’t have to worry about meeting minimums or exceeding maximums when you factor staffing invoices. In fact, you have the freedom to send in as few or as many invoices as you need, whenever you need, to maintain your cash flow. Moreover, IT staffing factoring fees do not begin until the day you submit the invoice for funding.
Additional back office support
In addition to funding you quickly, your IT staffing factoring company can offer you administrative support that will save you even more time and money, including making collections efforts on your behalf and running background and credit verification on your current and future customers. On top of that, 24/7 online reporting keeps you up to date on your account status no matter where you are.
Ready to Get Started?
Contact us at 855-322-8671 to learn more about factoring for your temporary agency.
Fast Payroll Funding for a Variety of Technical Staffing
- Data and Database Management
- Web Design and Content Management
- E-commerce Development
- Project Management
- UX Testing
- Technical Support
- Infrastructure Management
Factor Finders works with a wide network of factoring companies worldwide. Our IT staffing factoring partners are experts in the industry and can customize a program that meets your agency’s unique needs while ensuring that more of the money you have earned gets to you when you need it most. We know how to help you get quick funding at industry low rates. Contact us to find the best factoring company for your staffing agency.
To get started, all you need to do is fill out a short application and send:
Your Articles of Incorporation
Copies of the invoices you wish to factor
A current customer list and invoice aging