Invoice Financing can boost the cashflow needs of
your staffing agency fast. Paying your best staffing talent on-time can be near
impossible when clients are taking 30-60 days to pay you.
Affordable working capital for payroll funding and
other crucial expenses are available today for all types of temporary staffing
agencies, including IT, security guard, labor, nurse, legal, accounting,
administrative, financial, health care or whatever niche your staffing
company caters to.
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payroll financing |
In
today’s business environment, a temporary staffing company can be a very profitable venture. The
environment of outsourcing rather than hiring employees offers many attractive
opportunities for staffing agencies. However, without sufficient working
capital, a staffing company will struggle. The company will be unable to
operate effectively or add new clients. Ultimately, the company’s growth will
suffer, that's where invoice financing
for payroll comes in.
One
of the easiest ways a company can cover payroll and see growth is by using
payroll funding. This type of invoice factoring allows a company to finance their
slow-paying receivables. Instead of waiting for clients to pay in 60 days, your
agency can receive funds through the payroll funding company within a day or
two – in some cases, in just minutes.
Payroll
financing essentially allows your staffing agency to "sell" it's
accounts receivable invoices to the factoring company for a fee, in return for
upfront cash to pay your temporary employees.
NorthWest Finance can advance 90
percent or more upfront which is among the highest rates in the country.
Invoice
financing is another way to say payroll financing. If you are seeking to grow
your temporary employment agency, invoice financing is an alternative financing
method that is available to your business today.
Invoice
financing is useful for smoothing seasonal fluctuations, managing
payroll expenses, purchasing additional machinery and equipment or
transitioning your companies distribution models.
It
can also be a useful stopgap measure when you are selling to a larger company
that takes a while to pay it's invoices.
NorthWest Finance
Minneapolis St Paul Mn and Across the U.S
612-615-8196