How Payroll Financing is Freeing Up Working Capital
Every business owner knows that the last thing one wants to miss is payroll. Not only can missing payroll totally demoralize your team but you can get in a lot of trouble from your state/IRS if you don’t pay your people. As a result, there are times when business owners will not take many chances to grow their business in fear that they need to have reserves to make payroll if a client is late in sending in payments. Business funding can help free up working capital.
Many companies now are turning to Payroll Financing to ensure they can always make payroll allowing them the freedom to use some of the cash reserves that are kept on hand for growing the business.
Payroll Financing is being used like a bank line of credit which is always there if you need short term finance. The money can be paid back in as little as 7 days or can be spread out for daily payments of 26 weeks. By having Payroll Financing as a back up plan, you can use your reserves to generate new business through bids, new lead generation, or additional hiring.
In many cases the increase in sales that you can generate with the increased working capital results in enough profits to pay for the funding and this increase is sales in the long run greatly results in higher profits.
Small business owners often will be conservative in their effort to grow their business. With Payroll Financing, you now have the financial tools that large companies have used for years to grow their sales.
Financing Solutions (www.payrollfinancingsolutions.com) provides fast business funding of $5,000-$100,000 to good small businesses with sales of $500,000-$7 million that can be used for working capital.