PAYROLL FUNDING FOR STAFFING COMPANIES
Staffing Payroll Funding
Payroll funding is an essential aspect of running a staffing agency, as it allows you to pay your employees on time and ensure that your business operations continue to run smoothly. This involves getting financing to cover the costs of paying temporary or contract workers before your staffing agency receives payment from your clients. This can be particularly helpful for staffing agencies that experience cash flow gaps due to extended payment terms or slow-paying clients. It can also be a good option for staffing agencies that need quick access to cash and have limited access to traditional financing.
Payroll funding through SouthStar offers services that allow you to finance your payroll by providing working capital based on your accounts receivable, which means you’ll get the money you need to pay your employees without having to wait for your clients to pay their invoices. It can also help improve cash flow and reduce the risk of late or missed payments, providing a convenient and reliable solution for staffing agencies.
Staffing Factoring with SouthStar
SouthStar works with temp and permanent hire staffing agencies. When funding payroll with SouthStar, you will be assigned a personal account manager who will handle collections, payment processing, and customer credit approvals, allowing you to focus on your business. Our funding decision is based on the credit history of your customer, not your company or personal credit history. Years in business is also not a factor in our decision to finance.
Once established with SouthStar, you will receive same-day funding on submitted invoices. This gives you access to unlimited working capital, right when you need it. Staffing payroll funding also allows you to extend longer payment terms to clients and grow your business.
Get the funding you need today!
Benefits of SouthStar’s Staffing Factoring
- Easy and fast qualification
- Initial funding in 2-5 days
- Private lender
- Fast decision making
- Pre-check of customers
- Challenged credit is a non-issue
- Balance sheet issues are OK
- No equity required
- Collections services
“Business was good and our company was growing, but our slow paying clients had our cash flow tied up in invoices. Paying our staff on time was a constant struggle that resulted in us losing employees. SouthStar’s Payroll Funding has really turned our business around. Now I have the cash I need to pay employees on time and I’ve used the extra funds to take on more clients.”
– Andrew, Owner of a Distribution Company