Staffing Finance is used by all types of staffing companies in various stages of growth. Staffing companies typically pay employees weekly or every other week, however, bill customers on a Net 30 day basis. Staffing companies require staffing finance in order to bridge the gap between making payroll and paying expenses to getting paid by the customer.
The most common type of staffing funding are:
- Asset Based Lending
- Invoice Factoring
- SBA Loans
- Cash Flow Loans
Choosing the right staffing funding program will largely depend on the advance percentage the staffing company is looking for and the additional services required. Factoring facilities will sometimes allow for a greater advance rate than asset based lending, however, can come at a higher cost.
Staffing finance is sometimes bundled with other back office services such as payroll services, insurance products and workers compensation. Staffing companies can often save money by having back office administrative services bundled with Staffing Finance.
While there are several forms of staffing finance available, each has its positives and negatives. In many cases more than one form of financing can be used to generate capital. Choosing the right working capital facility with the right lender can make all the difference.
Call us now at 855-424-2958 to discuss your staffing finance options! Or fax us at (855) 450-0885.
Customized Financing Options
Asset Based Lending
Revolving lines of credit up to $20,000,000
Accounts Receivable Factoring
No minimums, up to $20,000,000
Secondary lines of credit for ABL or Factoring
Equipment & inventory facilities
Great for staffing & temp agencies