Regardless of the type of business, employees are at the heart of either success or failure. Several very prominent and successful entrepreneurs and business professionals are on record as supporting this statement. In fact, one of the most success, Sir Richard Branson, is attributed to the popular statement, “Put your staff first, customer second, and shareholders third.”
As a small business, you may not have shareholders, but you do have employees and customers. Putting your staff first means a lot of things, but one of the most important and the most basic is making sure they are paid fully and on time.
This is where United Capital Funding’s payroll factoring services can be very beneficial to your business. By tapping into the funds you have already earned through sales, you can have the cash on hand to be able to ensure that all employees are paid, even if your cash flow is temporarily depleted.
The Reality of Payroll
With business-to-business (B2B) or even business to government agency types of sales, there is typically at least a 30-day term. In many cases, particularly with large volume sales or with ongoing contracts, there may be a 60 or 90-day term with the sale.
During those one to three months after you have completed the sale or the service and you are waiting for payment, you may have limited cash available. This is particularly true if you have taken on new work and are using your cash for buying materials, equipment or even hiring.
The result may be that there are simply not enough funds in the business to make payroll. This leaves the business with a choice to make payroll and not have the materials needed to take on another job, or buy materials and try to convince employees that payday will be a bit further down the road.
While some employees may be able to wait, a lot of people depend on weekly or bi-weekly pay to keep their own affairs in order. By missing payroll, you will lose valuable employees, reducing your ability to take on bigger projects in the future.
However, not making payroll has other implications. It can significantly damage a company’s reputation for future new hires, and can impact branding and marketing efforts.
The United Capital Funding Payroll Solution
At United Capital Funding, we understand how important it is to keep a skilled, experienced and expert workforce at any business. We offer payroll factoring to allow a business to have advanced access to the funds they are going to receive as per the terms of their accounts receivable.
We will factor up to 80% of the account receivables you choose to factor, allowing you to have funding to the level you need to ensure all employees are paid, materials and supplies are purchased and your business is able to continue to operate.
With no hidden fees, our factoring service is a viable and cost-effective way to retain all your employees even when you may have gaps in your steady income stream. Additionally, since this is not a loan, there is no need to have to budget for repayment, and no interest to have to calculate through the advance.
Finally, and this is essential for a top business, your employees will always have payroll on time and as expected. Our experts are here to help you with both factoring as well as financial support and assistance, and we can provide services as you need them, with no long-term contract agreements.
At United Capital Funding, we understand your employees are the heart of your business. If you are having difficulties in making payroll due to cash flow issues, please contact us today at 877-894-8232. Upon approval, we can have funding to your account in just days, a simple solution to a complex problem.