Temporary Staffing Agency Factoring
Meeting payroll is the highest priority for staffing agency company owners. However, payroll can be a challenge if your company is new or growing very fast. Employees need to be paid quickly but customers usually pay their invoices every 30 to 45 days. This can affect the company’s cash flow, and may prevent it from meeting payroll. The solution is to factor your invoices.
Want an instant factoring quote? Get an online quote now! Questions? Call (866) 730 1922. Services in the USA and in Canada.
Factoring rates as low as 1.5%. Advances as high as 90%.
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(subject to monthly volume and industry).
How does factoring work?
Factoring is the ideal financial tool for temporary staffing agencies. It provides agencies with an advance on their invoices. This allows the agency to pay its employees, meet its obligations and grow.
Factoring can work with any staffing agency and can be set up quickly. It works as follows:
- You deliver services and invoice your client
- We advance you about 90% of the gross value of the invoice as a 1st payment. The remainder 10% is held as reserve
- Once your client pays the invoice, the remaining reserve is advanced, less a small fee
Benefits to your staffing company
Staffing companies that implement factoring programs can enjoy the following benefits:
- Better liquidity - thanks to the finance advance
- Flexible financing that accommodates growth
- Quick turnaround times
Want an instant factoring quote? Get an online quote now! Questions? Call (866) 730 1922. Services in the USA and in Canada.
You can get additional information at our Factoring Resource Center or fomr these articles:
