Meeting weekly payroll is often the biggest obstacle staffing companies face when growing their company. When business owners are awarded bigger contracts by their customers, the more money they will need to for payroll and operating expenses.
Staffing companies face tremendous cash flow pressure when they have to pay their employees weekly, but their customers are taking 30, 45, 60 days or more to pay their invoices. Some business owners will use their personal credit and savings to bridge this gap. This will often create many headaches, commingling personal and business finances, but it will also prove limited to the extent of the business owners’ resources.
Many employment agencies have discovered that traditional bank financing was not a good option for them. Banks will often offer a line of credit based on the previous year’s performance. So, the additional money needed to grow is rarely available.
Fast growing staffing companies are using invoice factoring to solve this cash flow dilemma. Business owners simply pick which invoices they want to sell and receive an advance up to 90% of the invoice amount the next morning. Factoring is a fast and simple way to provide growth capital without creating any debt for the business owner or the staffing company.
American Receivable has been factoring staffing companies and employment agencies since 1978. Business owners take advantage of our streamlined application, our flexible factoring program with transparent pricing and the best rates in the industry to secure the money they need to meet payroll, operating expenses and even have money leftover to pay themselves.
American Receivable, with offices in Austin and Dallas, Texas, has helped an array of different staffing companies throughout the nation:
- Security
- Nursing
- Clerical
- Warehouse
- Information Technology
- Health Care
- Service Providers
- Roustabouts
We understand that many staffing companies are being held back from growing their companies by slow cash flow. Our flexible factoring allows our clients to stay in control of their factoring relationship while getting the cash they need to take on bigger and more profitable accounts. Our Top Rated Factoring service makes sure each client is receiving the Best Factoring service at the most competitive rate. Call us today to get your staffing company started on the road to success.
[email protected] 972-404-4726
[email protected] 800-297-6652
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