How an Advance Payroll Funding Helped a Staffing Company Comes Out of the Recession
Justin owned a high technology temporary staffing business since 2001 and prior to 2009, his company had some tremendous growth years. His company places telecom engineers and quality control specialists into companies such as large telecom companies. However, during the recession, most companies stopped using consultants and his clients were no difference.
In 2012, Justin’s business started to really grow again but this time, Justin was not prepared to handle the huge increase in his payroll expenses and because of the 3 prior years of poor sales, no bank was going to lend to Justin and certainly not in the quick time frame that was now required.
Justin had a serious problem. When you are in the temporary staffing business if you miss payroll your employee are going to leave and the companies you are doing business with will completely loss confidence in your staffing company.
Justin had read about Financing Solutions (www.payrollfinancingsolutions.com) in Staffing Industry Analysts Magazine and knew that he needed an advance payroll funding company to help him bridge the gap for 30-60 days so he could pay his people and collect from his clients. Justin would then pay back the fund.
There was no time to waste. Payroll was in 24 hours. Justin spoke to Payroll Financing Solutions and within 4 hours he was approved for the fund. In 12 hours the money was wired into Justin’s account and Justin made payroll.
Justin has the ability to pay the fund back within 7 days to 6 months giving him the ability to keep his business growing. Financing Solutions advance payroll funding capability helped Justin’s company stay on the growth curve and to also not miss out on any future profits.
Financing Solutions (www.payrollfinancingsolutions.com) provides fast business funds of $5,000-$100,000 to good small businesses with sales of $500,000-$7 million that can be used for working capital.