Payroll Funding for Staffing & Small Businesses
Slow Paying Clients? We’ll Help You Get Paid Faster!
Funding payroll can be tough without constant cash flow. Your clients may pay within 30 days, but your employees likely 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 payroll funding solutions for almost all industries for decades. If your company is struggling with payroll and needs extra funds – 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 payroll funding experts can help design the perfect funding solution for your niche.
How Does it Work?
Rather than wait for clients to pay, payroll funding companies purchase your unpaid accounts receivables and advance your company the cash–instantly. This process is also known as payroll factoring. With same-day funding available, this means you’ll always have the cash for payroll and other expenses. Unlike bank financing, funding payroll with factoring creates zero debt. You’ll never have to worry about paying back any loans and incurring high interest rates.
5 Easy Steps to Funding Payroll:
- Service your customers and submit invoices to the payroll factoring company
- The factoring company issues your business a cash advances up to 95% of the invoices amount
- Use the cash advance to fund your 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
Happy employees lay the ground work for a successful company. In order to keep them happy, they must be paid. Whether you have 10 or 10,000 employees, Factor Finders can provide the perfect solution to your cash flow needs. Payroll funding can be used to pay employee wages, worker’s compensation, benefits and other payroll requirements. In addition to funding payroll, you can use the extra working capital to cover other business expenses, take on new clients, pay vendors, etc. Securing funding is fast and easy.
It’s easy to get started!
Secure the funding you need, when you need it the most.
The Benefits of Payroll Funding with Invoice Factoring
The benefits of using this financing method reach beyond positive cash flow.
There’s a reason that payroll financing is quickly becoming the preferred
financing method for the staffing industry 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 advance rates up to 95%
No long-term contracts
Need Help Paying Your Employees On Time?
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What to Expect with a Payroll Funding Company
Every company is assigned a personal account manager to handle all account management duties including customer credit approvals, collections and billing so you can get back to running your staffing company. Instead of fretting about cash flow, you can focus on growing your business. In addition, by working with a factoring company you’ll have the ability to extend longer payment terms to clients and grow your operation.
Easy Approval – Bad Credit is Okay
If your company has been denied for bank financing, you’ll likely be approved for payroll funding. Why? Credit checks are conducted on your customers – not your company or personal credit history. If your customers have a decent credit history, you will be approved to finance your payroll. Factoring is a fast working capital option for startups and small businesses that don’t want to take on more debt.
The following is NOT required for approval:
- Good credit rating
- Personal guaranties
- Profitable operating history
- Long operating history
Our account specialists will match you with the right payroll factor for your needs. If you need cash for payroll and need it fast – we can help. Count on us to find you the PERFECT payroll funding program to meet your business goals.
Which Companies Are Eligible for Payroll Funding?
Virtually all businesses can benefit from access to steady working capital.
Any company that extends credit to customers is eligible to factor accounts receivable.
Factor Finders Services:
About Factor Finders
Factor Finders is committed to helping your business find 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 funders out there so when you’re not sure which company is the best fit for your business, we do. Save yourself the time and painstaking effort it takes to research each individual program and let us help!Let's Talk!