Quick Funding for Startup Staffing Agencies
Is your staffing startup struggling to maintain the cash flow necessary to recruit and hire more staff? Are you passing up larger clients due to insufficient funds or working capital? Could your staffing agency benefit from additional cash flow?
Payroll funding is the perfect financing solution for staffing companies of all stages, whether you’re a startup or you’ve been an established agency for years. Both startup staffing firms and long-established agencies use payroll funding to access working capital that’s tied up in unpaid invoices.
Cash flow worries shouldn’t hold you back from launching a staffing firm. Take advantage of flexible payroll funding options and make your vision a reality!
What is Payroll Funding?
Payroll funding, also referred to as invoice factoring, is very straightforward and eliminates the wait to be paid by your clients.
How Does it Work?
First, your staffing firm provides staff to your clients and invoices on your usual terms. Instead of waiting the typical 30, 45+ days to receive payment, your staffing firm sells the invoice to a payroll funding company for an advance within 24 hours.
Challenges of Starting a Temp Staffing Agency
Any experienced business owner will tell you that the initial startup period is the biggest challenge for new businesses. Many fail within the first few years and lack of cash flow is one of the biggest contributors to a business closing its doors.
New temp staffing agency owners begin with the best of intentions, but easily fall victim to mistakes including starting with less than optimal working capital, not anticipating lengthy waits on invoice payments and lacking a financial plan to cover emergency costs.
The staffing industry can be extremely lucrative, but competition is fierce. A stable source of working capital is essential to cover startup costs (expected and unexpected). If you’re starting a staffing company with little money in the bank, it’s crucial to have a cash flow cushion in place. That’s where payroll funding for startup staffing companies can help.
- Steady funds for payroll
- Financial cushion
- Money when you need it most
- Freedom to extend customer payment terms
- Ability to hire more staff and take on new accounts
We know that starting a temp staffing agency is overwhelming, and that’s why we’re happy to help staffing startups build a strong financial foundation step by step. With payroll funding, startup temp agencies can easily obtain the money they need to prosper.
Payroll Financing Helps Temporary Staffing Companies Grow and Thrive
Payroll financing for staffing startups is easy, quick, and risk-free, which is why it has such high popularity in the staffing industry. Unlike a bank-loan, it creates no additional debt or financial obligations, doesn’t require collateral or the time expense of an arduous application, and accepts all companies regardless of size, experience, or credit history!
Payroll funding for startup temp staffing companies is the best way to get cash for your invoices immediately, freeing up your company’s books so you can focus on moving your business forward.
Funding for Temp Staffing Made Simple
Dedicated factoring experts will walk you through every step of the way, to make the temp staffing funding process as effortless as possible.
Our funding process is human; our talented team will take personal care to connect your staffing firm with the factor that best matches your needs, and work to create a plan for you that will move your company forward and help it achieve its goals.
By funding staffing payroll with factoring, you’ll always have a steady flow of working capital to keep your business afloat if times get tough. An experienced payroll funding company will provide (optional) back office support and can offer helpful staffing industry insight to make your temp staffing startup a success.
- Up to 90% immediate cash back
- Flexible contract terms
- No hidden feeds
- Bad credit OK
- No minimums
- First time accounts get processed within days
- Industry low rates: 0.69% to 1.59% for 30 days
- No application feeds
- Back office support
All staffing companies regardless of size, industry, or experience can take advantage of staffing payroll financing! Staffing industries payroll funding benefits include: