How Financing Solutions is Helping Staffing Companies
Why Would a Staffing Company Need Payroll Financing
Staffing companies, rather they be temporary, permanent, or even consulting, have one service or product; people. Staffing companies are in the people business and when the staffing invoices are not paid on time from their customers then all heck can break lose at your company. A new form of spot funding called payroll financing is a perfect fit for staffing companies that might miss payroll.
Why is Missing Payroll a Bigger Deal to a Staffing Company
Any staffing company owner knows that the people they place have very little loyalty to the staffing company so when there is an issue with payroll, not only will the employees know but they will also let your company client know. Once your company client knows that you can’t make payroll you had better believe that you have lost a lot of credibility from your client. Even if it is their company that is paying you late! Employees and your clients expect you to make sure you have enough money to consistently make payroll and often, it comes down to the very end before you know that you will be short.
Financing Solutions is Helping Staffing Companies
Financing Solutions works like a spot funding or Factoring company. It is geared to companies looking for a short term business loan therefore the turnaround time to wire the money is 48 hours or less. A Financing Solutions Managing Partner will have a quick 20 minute conversation with the staffing company owner so to understand the business. After that initial conversation you will know if you have been approved. Once approved a preliminary e-mail will be sent out with the payment details. If you wish to proceed then FS will ask you for some backup documentation. As long as that back up documentation matches what you told the Managing Partner in your conversation then the funds will be wired into your account. You are able to spread your repayment schedule over whatever period of time you like up to 26 weeks and each day their will be a small ACH payment drawn from your business bank account.
What is the Key Advantage of Financing Solutions For Staffing Companies
Speed, speed, and speed. One of the key advantages of Financing Solutions is that the program is geared to get you an answer and money fast. Plus, there is very little paperwork to be filled out. The other key advantage of Financing Solutions is that the Managing Partners have built and owned staffing companies themselves so they instantly understand your business industry.
Fill out an application today or call 862-207-4118 x502 and get your answer today.
Other links to consider:Payroll Financing Solutions Home page Staffingtalk Payroll Funding: Innovative Service Or Staffing Industry Underbelly? How an advance payroll funding company helped a staffing company out of a recession Starting your own staffing company