Factoring for Staffing Company
Alliance One will help you make payroll. Is cash-flow preventing you from hiring on new employees? What is the factoring process and what can you expect?
As a temporary staffing company, we know that having positive, consistent cash flow is the lifeline of your business, as you have weekly payroll needs. Alliance One has been factoring for employment agencies for over 25 years. The more your company grows, the money you need to pay your staff. You sell us your open invoices at a discounted rate for immediate cash.
Payroll is the largest expense for most companies, so the need for cash-flow is most important in any business but it's especially true in the staffing industry.
Can Invoice Factoring help you make Payroll?
When you run a staffing company, you must have cash-flow. You most likely pay your staff weekly or bi-weekly but your customer do not pay their invoices for 30 or 60 days. All business need cash-flow to survive and staffing company burn through cash-flow faster than most other industries. If and when you obtain a new client, how are you going to pay your new employees? If you are plush with cash, you would be here right now. If you are like most companies, you are going to need financial assistance in growing your business. You can tap into your personal savings or a line of credit or you can utilize employment agency finance to get you working capital. Our factoring program is a debt free option. Invoice financing for staffing companies is fast alternative method to a bank line of credit. When you sell us an invoice, we verify that the services have been rendered and then send your money within 24 hours.
Should you Factor your Invoices or apply for a Bank Line of Credit?
Traditional bank loans, usually do not work for staffing companies. A line of credit is normally based off of your business tax returns, so when you need to hire more people, the money made, will not reflect until the following years tax return; so you will always need more than what the bank says you can have. If take on a new customer and they require your company to supply them with 10 people, your line of credit can be depleted just making payroll for this one customer.
When you use invoice factoring to pay your staff, you are simply selling your invoices for each employee on a weekly basis. We advance you up to 90% of the invoice face amount within 24 hours. We hold back the rest of this amount in your reserve account. This money is sent back to you, once your customers pays their invoice, less the invoice factoring fee. As your company grows, we grow with you and when you need more money, we will provide it.
Temporary Staffing Factoring Q&As
Is Staffing Company Factoring right for your business?
If you are want to eliminate bad debt, grow your business, looking for positive cash flow and maybe even pay yourself; then invoice factoring with Alliance One, is your ticket to Financial Freedom.
As a staffing agency, payroll funding is crucial to keep your doors open. By the very nature of the business, staffing companies will always have an ongoing need for payroll funding. Staffing agencies usually pay their employees on a weekly or on a bi-weekly basis. Are you waiting 30, 60 or even 90 days for customers to pay their invoices? If so, this will cause a serious cash-flow problem.
Here at Alliance One, we understand your financial needs; we specialize in invoice factoring for staffing companies. We provide you with a payroll funding solutions that is debt free. We know that you are turning to an invoice factoring company because you are concerned about making payroll. Are you going to hope that you receive a payment from your customer to assure that you can make payroll? If if this system has worked for you in the past, aren't you tired of hoping and hunting down your customers to expedite their payment?
Alliance One, your invoice factoring company has you covered? Do you need a quick factoring solution to solve your cash flow problems? Alliance One wants to be the funding company for your staffing agency. There are many invoice financing companies out there, what makes one company the best factoring company for you business? It's when you have 100% confidence that your money will always be there when you need it. If there is ever an issue, it's you knowing that your account representative will be there to help you. Let us help you reach your goals; you worry about growing your business, you no longer have to hope your customers pay you in time.