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Staffing companies are essential in today’s work environment, and they have a unique set of challenges. At United Capital Funding, we have been providing staffing factoring, also known as payroll factoring, since 1997.
We have a specialized team of professionals that are experts in the staffing industry. This provides your company with professional advice and support that can be instrumental in growing an expanding your services and also in making inroads into new markets you may not have previously considered.
The Staffing Company Conundrum
Staffing companies, perhaps more than any industry, have a very specific type of challenge. They have a workforce, which is also their product, and that workforce has to be paid on a regular basis.
This means that the staffing company has to have payroll available every Friday or every other Friday, or perhaps on the middle and first of each month. However, the businesses they provide temporary staff to are often invoiced on a net 30 or 60-day term, which means there are times of the month when the cash going out for payroll far exceeds any possible cash coming in.
Additionally, and this is the other important factor, a staffing company has to be able to constantly recruit new, qualified and exceptional employees. After all, these employees are your walking brand program, so having the ability to bring highly qualified people into the agency is essential for growth.
Recruiting, on-boarding, training and even ensuring certification for specific staffing requirements will need to be ongoing expenses for the company. Finally, as if that wasn’t enough of a challenge, there is also the need to maintain the office, pay the office staff, and keep up with your marketing and advertising programs.
Filling the Gap
The challenge for the well-run staffing company is not the lack of resources of payment from clients; it is the timing between invoicing and payment and the continue cash drain for payroll, talent recruitment and office operations.
The staffing industry experts at United Capital Funding have the answer to this problem. We can fund your outstanding accounts receivables in days through our staffing factoring services.
All you need to do is complete the online application on the website., You will need to provide just the basics of your business, and also information about the accounts receivables you wish to factor.
We have the ability to factor between $25,000 to $4,000,000, so we are definitely are here to grow with your business factoring needs. Once approved, up to 80% of the invoice total will be wired into your business account, and you can use it as you see fit.
- This will allow you to:
- Make weekly or bi-weekly payroll
- Provide ongoing recruiting for top employees
- Increase your staffing numbers
- Take on new contracts
- Address cash flow challenges for new staffing agencies
- Provide working capital
You may even want to expand your office or open a new location, how you use the funds will be up to you. Keep in mind this is not a loan, and you will never be required to repay the amount as it is not a loan.
Lower Your Operating Costs
Additionally, with United Capital Funding, we will then assume full back office support for the accounts receivable you choose to finance. This means we will receive payments from your clients and ensure all information is maintained on the account.
We will work with slow paying businesses, and we can even complete collections if required. This will help you to avoid having to collect from clients, relationship which is important to retaining a good business to business to business-to-business, relationship.
Many of the companies turning to us for staffing factoring find that using United Capital Funding to handle their accounts receivable is a good option. They don’t have to employ an accounts receivable department, and they also have the advantage of our financial support and services, something not possible with other types of funding options.
If you are interested in learning more about payroll factoring for staffing companies, or you want to apply for services, give us a call today. We are available at 877-894-8232, and we can provide you with a free, no-obligation quote on your factoring needs.
Do you need working capital?You’re one step closer to getting the financing you need.
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Types of Staffing Companies We Factor
- Clerical Staffing
- Consulting Staffing
- Government Staffing
- Industrial Staffing
- Information Technology Staffing
- Janitorial Staffing
- Light Industrial Staffing
- Medical Staffing
- Technology Staffing
- Telecom Staffing
Ready for new financing?Apply now and get the process started today.
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Staffing Factoring Client Testimonials
– President, Staffing Firm
“My account representative has been a true asset to our team.”
– Staffing Firm