Industrial Staffing Factoring Grows Businesses
Industrial firms are looking for experienced professionals with specialized skills to cover a number of critical functions, which can be a boon for the savvy staffing agency. Unfortunately, the gap between payment and payroll can quickly tie up working capital and make it difficult to take on new clients.
Industrial Staffing Factoring = Quality Payroll Control
That’s when industrial staffing factoring can help! By factoring your industrial staffing invoices, you can benefit from immediate cash advances to cover any and all operating expenses, including payroll and other employments costs. Unlike a traditional business loan, staffing agencies can access unlimited funding potential – without incurring new debt – by working with an industrial staffing factoring company.
What is Industrial Staffing Factoring?
Factoring for industrial staffing agencies is made possible through the assignment of open invoices to the factoring company. The factor will purchase invoices and then collect directly from your customers, giving you both financial freedom and added time to build your business.
A basic factoring transaction is simple:
- Submit your invoices for completed staffing shifts. The factor will review your invoices for accuracy and validity and will advance a portion of the invoice within 24 hours. Deposits are made via wire or ACH transfer to your bank account (fees apply).
- While the factoring company works with your customers to collect, you can continue staffing shifts and submitting new invoices as needed to maintain sufficient working capital.
- When the invoices are paid, the factor will send you any remaining funds minus a small factoring fee.
You can submit as many invoices in a single transaction and complete as many transactions as necessary to boost your cash flow. Another key advantage of industrial staffing factoring over conventional lending is that you can qualify for even greater advances as your sales grow!
Advantages of Invoice Factoring for Industrial Staffing Agencies
In addition to fast cash and a sliding credit limit, there are a number of reasons why industrial staffing factoring is the ideal funding solution for industrial staffing agencies of all shapes and sizes.
Industrial staffing factoring benefits include:
- Funding for start-ups
- No hidden fees
- No long-term contracts
- Industry-low factoring rates
- Qualify with bad or little credit
- No minimum or maximum funding limits
- Initial funding within 24 hours of approval
Is Industrial Staffing Factoring Right for Your Company?
Factor Finders’ expansive network of staffing factoring partners are ready and eager to help you achieve your business goals through industrial staffing factoring. Operations in industries including manufacturing, aerospace, and oil and gas can find cash flow freedom with Factor Finders.
Some of the positions you can support through a competitive industrial staffing factoring program include:
- Maintenance technician
- Manufacturing operator
- School custodian
- Assembly worker/specialist
- Machine operator
- Shipping/receiving worker
- Production planner
Cover payroll, taxes, and recruitment for these jobs and more with invoice factoring for industrial staffing agencies – and get started today! Call 1-855-EZ-FACTOR or apply online to find the right industrial staffing factoring company to meet your agency’s needs!