Staffing Factoring is Too Expensive

With FastTempPay, you will never need a factor again.

Wouldn’t it be easier and cheaper to have a method of getting your entire invoice paid directly to you in 5 days? Before TempFastPay.com, you needed to have a Factor, or a big line of credit, very deep pockets or an investor that trusted you to make them money!

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According to Gateway Commercial Finance:

What is Staffing Factoring?

Temporary staffing companies’ main dilemma is finding ways to cover payroll funding while waiting for clients to pay their invoices. For staffing agencies that typically give their customers 30 to 90-day payment terms payroll funding is frequently a big struggle. Unless the staffing agency is well-established banks won’t usually help with cash flow financing. That’s when staffing factoring usually emerges as the best cash flow financing option.

Temporary staffing companies’ main dilemma is finding ways to cover payroll funding while waiting for clients to pay their invoices. For staffing agencies that typically give their customers 30 to 90-day payment terms payroll funding is frequently a big struggle. Unless the staffing agency is well-established banks won’t usually help with cash flow financing. That’s when staffing factoring usually emerges as the best cash flow financing option.

Benefits that Staffing Factoring Offers

Staffing factoring allows organizations to grow their businesses when they can’t or don’t want to get loans or lines of credit from a bank. Invoice factoring is the easiest path to accessing reliable working capital without acquiring debt.

Here are a few of the many benefits that invoice factoring offers staffing companies:

1. Invoice Factoring is highly accessible. Easy to apply and qualify.
2. Available to firms at any growth stage from small businesses to established enterprises.
3. The credit rating and background of your agency do not matter. The factor mainly cares about your customers’ creditworthiness, not yours.
4. The credit rating and background of your agency do not matter. The factor mainly cares about your customers’ creditworthiness, not yours.
5. It’s a flexible financial tool. You can sell the invoices you want whenever you need additional working capital. There is no limitation to the use of invoice factoring proceeds but most staffing managers use them for payroll funding.

How Does Staffing Factoring Work?

Staffing invoice factoring is an easy way to get temporary working capital to support your operations.

This is how the process works:

1. You deliver your staffing services and then invoice your customers.
2. You submit the invoices together with the timesheets to our staffing factoring company.
3. We advance you up to 90% of the invoice value within 24 hours (based on the terms of your contract).
4. You use the money for payroll funding or any other ongoing expenses.
5. The factor waits for the payment to arrive.
6. When the invoice is paid you get the balance minus our small factoring fees.
7. You repeat the process as long as it is needed.

Who Uses Staffing Factoring?

Staffing factoring is a very common tool used by staffing companies to access capital. The most common industries that use this flexible funding instrument are the following:

1. Security guard staffing agencies
2. Healthcare/ Nurses / Medical staffing
3. IT staffing
4. Warehouses & Office staffing
5. Customer service
6. Employment agencies
7. Trucking, Freight & Logistics
8. Hospitality staffing agencies
9. And many other staffing businesses that arrange the temporary placement of staff

How to Qualify for Staffing Factoring?

Staffing factoring is fast, reliable, and accessible. As long as you have unpaid commercial invoices, our staffing factoring company can turn those invoices into cash flow. It is that easy.

Our staffing factoring company’s main qualification requirements are the following:

1. Your clients have to be operating in the USA.
2. Your customers have good credit and financial background.
3. Payments are received between 30 and 90 days from the invoice date.

How to Apply for a Staffing Factoring Account?

Please submit a factoring quote request or call 1-855-424-2955 if you want to apply.

We have a simple invoice factoring application that can be completed online in about 10 minutes. In most cases, the only documents we request are an A/R Aging, an A/P aging report, and a sample invoice. Once we receive your application we can evaluate it and give you a proposal in an hour or less.

About Our Staffing Factoring Company

The temporary staffing industry's most common struggle is having the adequate cash flow to cover payroll. While customers usually take more than 30 days to pay, the staffing agencies’ owners and managers have to find ways to cover payroll funding every two weeks or less.

Our staffing factoring company can help your staffing business turn its outstanding invoices into cash flow almost immediately. You can use the factoring proceeds to grow your business or for anything else you need including payroll funding and paying for operational expenses.

We offer:

1. Staffing factoring programs customized to meet your special needs.
2. Low monthly fees and high advance rates.
3. Cash flow advances in 24 hours or less.
4. Flexible contract lengths.
5. Credit lines up to 5 million.
6. Relationship managers specialized in serving staffing companies.
7. Recourse and non-recourse invoice factoring agreements.

Gateway Commercial Finance says this about Staffing Factoring: Link

Gateway Commercial Finance is a Staffing Factoring Company. This article being displayed on our website is not meant to demean or put down their services. Prior to FastTempPay, this was one of your only viable options. If FastTempPay is not for you, call Gateway Commercial Finance, they will be happy to take your money.