How Factoring Can Help Your Staffing Company Succeed
Today, many companies are outsourcing a large portion of their hiring activities to staffing companies. If you are a staffing company, you know that it while you might be able to cover your basic overhead, you can also run into cash flow problems waiting for a client to pay.
Working with a factoring company can help you and your business be successful without having to stress about your cash flow.
Benefits of Staffing Factoring
Receive Instant Cash
Often times, staffing companies can wait up to 120 days to be paid by their clients. These extended payment terms leave the staffing company crippled- without enough cash to make their next payroll! With factoring, you will be able to turn those invoices into cash immediately giving you the capital to continue to grow your business.
Staffing factoring allows you to maintain a constant cash flow to cover payroll thus allowing you the freedom to go after the bigger contracts and projects.
Take Advantage of Opportunities
Loans take time to get approved and often are laced with terms that do not fit your needs. Factoring is a quick and affordable solution that gives you the financing to take on those new opportunities.
Invoice factoring is an efficient way for staffing companies to stay successful and competitive. Selling your invoices for cash now instead of waiting for the client to pay will allow you the freedom to grow and improve your business in today’s lucrative market.
Interested in learning more about staffing factoring? Give us a call at 1-800-297-6652 or click here to submit an online application and receive a free quote.