As a staffing company, timing can affect your ability to make payroll. Medical staffing factoring could easily and quickly solve your funding problems.
The Importance Of Payroll
Businesses should value employees as their most important assets. According to Business News Daily, their payroll should always be a priority. (In this article you might spot some thoughts from our CMO Mark Mandula!) Consistently making their payroll is your first duty towards them. But that’s often difficult when your cash flow is low or irregular. These issues can especially affect medical staffing and similar companies. You have some options to ensure you can make payroll when your employees need it.
- Planning: This advice might be frustrating in hindsight. But, planning and putting money aside could ease future payroll woes.
- Liquidation: Selling your business’s assets can free up funds for payroll. Survey and see if you have surplus equipment, inventory, or real estate.
- Loans: Loans and line of credit can increase your cash on hand. Paperwork and an approval process can mean they can take a little time—and loans charge interest.
- Factoring: Selling your accounts receivable is also called factoring. It can get your business YOUR money exactly WHEN you need it.
Medical Staffing Factoring: An Issue Of Timing
As a staffing business, your employees are your assets. You’re not selling goods such as furniture, your clients need people to work, and you provide the people. That means your payrolls are often your most significant expense. You bill your clients for the funding to write paychecks, but timing is sometimes not in your favor. Employees expect to be paid for the time they worked, in a timely manner. But your clients might be on different billing cycles or delay paying you. Pass along these unpaid invoices to a factoring company. They can get you your funding so you can pay your people.
Factoring For All Staffing Companies
In addition to medical staffing factoring, United Capital Funding works with all kinds of businesses. Especially those who have many business-to-business (B2B) and government contracts. Specific to payroll factoring, we’ve assisted the following types of staffing companies:
- Clerical Staffing
- Consulting Staffing
- Government Staffing
- Industrial Staffing
- Information Technology Staffing
- Janitorial Staffing
- Light Industrial Staffing
- Technology Staffing
- Telecom Staffing
United Capital Funding: Your Trusted Business Partner
United Capital Funding has years of experience with medical staffing factoring. One of our staffing company customers recently said, “My account representative has been a true asset to our team.” And that is precisely how we want our clients to view us. We’re not just another vendor or supplier. Our service enables you to grow and maintain your business. Call us at 877.894.8232, fill out an application, or contact us online. Your funding is the lifeblood of your company—see how we can be your funding partner.