Q: What does Financing Solutions (FS) do? A: We provide quick, short term funding ( cash advances) from $5,000-$150,000 to small businesses who often have yearly sales from $300,000-$10 million.
Q: Why do you work with Payroll Companies and are you a payroll company? A: FS is not a payroll but a finance company. We work with Payroll companies like yours because 1) Your clients often need fast short term financing 2) You deal with companies that we often deal with who have yearly sales from $300,000-$10 million 3) Your clients use alternative financing companies like FS all the time often without you knowing about it and we see the opportunity for all of us to work together ( we pay you good referral fee!).We can give you our eBrochure the e-mail to your client if you like.
Q: How much does my payroll company get paid for the referral and does it affect what my clients funding costs? A: Payroll companies get 2% of the total amount funded after one week of a funded deal. FS pays for your commission out of our own pockets and it does not effect the price your clients get from us. i.e. Your client would get the same deal from FS if they came to us directly or through you.
Q: What is the application process for our clients? A: After a 15 minutes interview with the business owner and reviewing their bank statements, we will send your client an approval letter with our offer (all within 4 hours or less). Once the offer letter is signed by your client, we will ask for a few minor other documents, send a final contract and wire the funds. A payment schedule will be put in place to repay the funding provided. Your payroll company need not be involved and there is no risk to you if the client fails to repay the funding.
Q: How quick can you fund a client? A: Same day if it is needed but most clients need funding within 2-3 days. We will accommodate your clients turnaround timeframe based on what they need. FS’s ability to turnaround funding requests quickly with very little business owner involvement is why companies come to us.
Q: How much do you charge? A: We have different plans depending on the credit worthiness of your clients and how long they need the funding for. When we send an offer letter the payment plan will all be spelled out and is easy to calculate the fees. We are more expensive then a bank but cheaper then a long term Factoring arrangement. Our funding is perfect for a short term financing situation and requires very little of the business owners time. Clients can pay back the funding in 7 days to 26 weeks which is unique in our industry.
Q: How should our Payroll Company notify our clients about Payroll Financing Solutions? A: We have a ebrochure that you can e-mail to your clients or you can have them call us at 862-207-4118 ext 19. Keep in mind that your clients are getting funding from alternative lenders like FS all of the time and you may not know about it. You might as well get a commission and help your client with another funding option by sending them out our e-brochure. You can also have your client visit our website at http://www.fundmypayroll.com/payroll and fill out a simple application which asks the client how they heard about us so we will know the lead came from you. Once we see your name we will call you and let you know about the lead. (We want to pay you for the lead because we would like more leads from you!)
Q: What makes Financing Solutions different? A: FS was started in 2011 by two 20+ year veteran entrepreneurs that have built several small successful businesses. We are not bankers and we speak “small business” language. We also understand and expect that most small businesses are not the most organized companies and our application process takes that into account so we can move fast. We understand that small business owners are busy and their time is valuable to their company. Your clients, and you, will always be dealing with one of the owners, Keith or Stephen, so you will get an answer straight from the top.
Q:What should I do now? A: 1) Email us and we will be happy to send you our ebrochure that you can send to all your clients. 2) Call us or have your clients call us at 862-207-4118 and we would be happy to answer any of your/client questions. 3: Send your clients to our website at www.fundmypayroll.com/payroll to fill out our simple application where they can put your name in our referral section.
