Staffing Factoring Solutions
Meet Payroll With Same-day Funding On All Of Your Receivables
Factoring provides upfront cash for unpaid invoices, ensuring steady cash flow.
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Meeting payroll deadlines is critical for staffing agencies to maintain trust with employees. Factoring ensures they have the funds to pay staff on time, even if clients delay payments.
Factoring allows staffing companies to take on more clients and expand operations without worrying about cash flow shortages caused by slow-paying clients.
Many factoring companies handle invoice collections and payment tracking, allowing staffing businesses to focus on recruiting and placing employees rather than chasing payments.
Staffing companies often pay employees weekly or biweekly but may not receive payment from clients for 30 to 90 days. Factoring bridges this gap by providing immediate funds.
Staffing and recruiting companies across all sectors can benefit from our services. Whether you specialize in temporary staffing, direct hire placements, or executive search, we offer financing solutions tailored to support your operations and cash flow needs.
Our financing options help ensure that your staffing operations continue to run smoothly and efficiently, even when faced with delayed client payments.
Our Account Management Portal offers transparent, easy access to all your account details in one place. With a user-friendly interface, you can manage your business with ease, track your finances, and stay on top of all transactions—whenever and wherever you need it.
Staffing factoring, also known as payroll funding or accounts receivable financing for staffing agencies, is a financial solution that allows staffing companies to access immediate cash flow by selling their unpaid invoices to a factoring company. Instead of waiting 30, 60, or even 90 days for client payments, staffing firms receive upfront funds, typically a percentage (e.g., 80-95%) of the invoice value. The factoring company then collects payment from the staffing agency's clients. This provides consistent cash flow for payroll, operational expenses, and business growth.
Staffing factoring offers numerous benefits, including:
The cost of staffing factoring varies depending on factors like the factoring company, the volume of invoices, and the creditworthiness of your clients. Factoring fees typically include a factoring fee (a percentage of the invoice value) and may also include processing or service fees. It's crucial to compare factoring agreements and understand all associated costs. Factoring fees are not interest rates, but costs associated with the service provided.
Staffing agencies of all sizes, from startups to established firms, can qualify for factoring. The primary qualification criteria are the creditworthiness of the staffing agency's clients and the quality of their invoices. Unlike traditional loans, factoring focuses on your customers' credit, not just your company's credit history. This makes it accessible to businesses with limited or no credit history.
Selecting the right factoring company is essential for a successful partnership. Consider factors like: