Payroll Funding for Staffing Agencies and Small Businesses
Fast and Simple Funding for Payroll
Payroll funding is an alternative funding option in which a company sells its unpaid receivables in order to receive payment sooner- hours instead of months. Many staffing companies rely on payroll funding to keep their employees paid on time, every time.
Slow Paying Clients? We’ll Help You Get Paid Faster!
Funding payroll can be tough without constant cash flow. Your clients pay within 30 days, but your employees need to be paid sooner. If your business needs funding for payroll, you’ve come to the right place. Factor Finders has been delivering flexible staffing payroll funding to small businesses for decades. If your company needs financing services, we can help!
Slow paying clients, rapid growth periods, seasonal patterns and other factors can pose cash flow challenges. That’s why we offer customized financing programs designed exclusively for your business. Our funding experts can help design the perfect payroll funding solution for your niche.
What is Payroll Funding?
You might be wondering, “What is Payroll Financing?” Basically, rather than waiting for clients to pay you, companies that specialize in financing for payroll will purchase your unpaid accounts receivable and advance your company the cash–instantly. This process is also known as payroll factoring. It’s as simple as that!
Ready to Get Started?
Fill out the form below and one of our factoring experts will help you on your way!
How Does Payroll Funding Work?
- Service your customers and submit invoices to the factoring company
- Your business receives a cash advance of up to 90% of the amount of the invoices
- Use the advance to fund your staffing agency or business as you see fit
- Your customer submits payment to the factor
- Once the invoice is paid, the remaining balance is returned to you, minus a small factoring fee
Financing is available within 24 hours of submitting invoices, so you’ll always have the money for payroll and other expenses. Unlike bank lending, funding payroll with a factoring company creates zero debt. You’ll never have to worry about paying back any loans and incurring high-interest rates.
As a business owner, it’s your job to pay your employees in order to grow your business and keep it successful. Whether you have 10 or 10,000 employees, Factor Finders can provide the optimal solution to your cash flow needs.
Payroll funding can be used to pay employee wages, worker’s compensation, benefits and other payroll requirements. While you have the ability to pay employees, you can also use the extra working capital for other business expenses, take on new clients, pay vendors, or whatever else you need to do to grow your company.
The Benefits of Invoice Factoring to Fund Payroll
The benefits of using this financing method reach beyond positive cash flow.
There’s a reason that payroll financing is quickly becoming the preferred
method of funding for staffing agencies and small business owners.
No minimum volume requirements
Payroll financing is available for startups
The amount of available working capital grows with your business
High advances up to 90%
No long-term contracts
Back office support for staffing companies including payroll processing, billing, taxes, etc.
About Factor Finders
Factor Finders is committed to helping your business access the funding it needs in order to grow. We take the time to listen to what you’re looking for and connect you with one of our many partners in the invoice factoring industry.
We’ve spent years cultivating relationships with the best funding companies out there so when you’re not sure which company is the best fit for your business, we do.
Save yourself the time and effort searching for the perfect payroll financing company for your staffing agency or business and let us do the work for you. This way, you can focus on your business and we can do what we do best.