Staffing Company Factoring
Just about all staffing company owners know that cash flow is critical for meeting weekly payroll needs. When customers pay invoices in 30 to 60 days it can make things pretty tight to operate the business. Staffing company factoring is a great tool to eliminate this cash gap and get you the funds needed for payroll the same day you invoice for your staffing services. We have worked with temporary staffing companies and staffing agencies for over 20 years so we understand your business model and staffing agency factoring needs.
Reasons Factoring for Staffing Companies Makes Sense
- Immediate funding on invoices for easy payroll processing
- Low factoring rates for staffing firms
- High advances providing as much payroll help as possible
- Attract the best talent by paying quickly and on time
Want a quick factoring quote? Please click here to get a great factoring rate.
What Staffing Companies Do We Work With?
Factoringfast is proud to be known as one of the fastest moving staffing agency factoring programs in the staffing business. We are providing invoice factoring for staffing companies that work in these industries below and just about any segment that staffing agencies are servicing today.
- – General Labor
- – IT
- – Healthcare
- – Administrative
- – Clerical
- – Construction
- – And Many More
How Does it Work?
Factoringfast will provide your company a quote for staffing agency factoring. This normally happens in as little as 15 minutes verbally and we can have something in writing in less than one business day. If you decide you like the quote and want to move forward we will then ask you to fill out our application and we will review your customers for credit approval. Typically within one day we will have a decision for you with details of exactly how the program will work. We then move to fast track funding and can often start funding your staffing company invoices the next day if our due diligence does not find something that would cause any delays. It’s not uncommon for us to have our clients staffing invoices funded within 2 days of fist contacting us. Have have been providing staffing agency factoring programs for 20 years.
Staffing Factoring Company Benefits:
- No up front fees in most cases.
- Advances made within 24 hours.
- Free quick credit checks for your new customers.
- No add on fees, your factoring fee is your total cost.
- Factoring rates as low as 1%.
- Advances up to 97%
The Essentiality and Usage of Staffing Invoice Factoring
The other name for Staffing Invoice Factoring is payroll factoring and this particularly applies to the staffing companies that help in organizing and assigning employees temporarily. The agencies for staffing will regularly connect with the partners based on several factors because the invoice in the case of the temporary workers will conventionally take several weeks to give the payouts. This kind of invoice factoring is best for businesses with bad credit. In most cases, the factoring companies will in reality care about the creditworthiness of the clients in specific. Not all factoring companies are similar. Most of them are different.
Staffing and Factoring
There are Staffing Invoice Factoring companies to take advantage of you with the hidden fees. It is the floating cost and there are the rest of the expenses that can make factoring badly expensive and cannot be predicted rightly. There are factors to act s regulated bank processes and things are completely transparent and these are things that will allow you to be what you want in particular. Factoring is expensive when compared to the traditional loans. The businesses that are good for factoring have the right pricing power and ability. This is something to help in increasing the costs and the prices to compensate in matters of factoring cost.
Invoice Financing Factor
Here is the concept of Factoring for Staffing Companies and it is something to give you the fastest access to the working capital. The same can be called recruitment invoice factoring and it is even known as invoice financing in certain cases. Factoring is the kind of financial transaction and it is the sort of debtor finance in which the business is sure to sell the receivable account in the most lucrative way. The company sells the invoice to a third party called the factor. This is how the business goes with the invoice selling and the rest.