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The Benefits of Factoring for Temp Staffing Agencies

Updated by on Apr 25, 2018 in Staffing Factoring

Accounts Receivable Factoring Temp Staffing Agencies

Staffing Industry Analysts recently published an update to its Global Staffing Industry Market Estimates and Forecast. $428 billion is estimated in revenue for the global staffing market for 2016. Of this amount, $382 billion is associated with temporary staffing. The report estimates $59 billion of global temporary staffing revenue is associated with the IT segment. With industry growth comes an opportunity for accelerated profits.  Often times this requires additional working capital for your staffing business.

What are the benefits of factoring for staffing agencies?

BusinessCash supplies fast and easy factoring packages to temporary staffing agencies such as payroll financing and receivable financing. We provide working capital programs tailored to meet the specific needs of the staffing industry.

How does Receivable Financing Compare to a Business Loan?

Receivable finance helps grow your staffing business and meet your cash flow needs. If you have the financial inability to get a bank loan or are considered non-bankable, invoice factoring gives you the working capital you immediately need. Many times, traditional bank financing is compatible with the needs of a staffing agency.

The factoring process allows for the advance of up to 90% of the accounts receivable amount the day the work is completed, or the service is performed. Factoring business invoices is a simple process; you get immediate cash when you need it most to run your business efficiently. This type of financing provides you with quick, flexible cash when you need it.


Purchase Order Funding

How Payroll Funding Works for Staffing Companies

We understand the demands rapid growth puts on cash flow, the pressure of meeting payroll and benefit premiums. We offer up to 92%, same day—wire transfer, advance against the invoice for our clients. After the invoice is paid we deduct our fees and remit the balance back to you. Depending on volume, the discount fee can be as low as 1%. Each account is handled individually. You will be assigned an account executive, a real, live person that you get to know, as a single point of contact. They get to know you as well and how you want your account handled.

A factoring company can require you to place your payroll processing with them, but not with us. We allow you to choose the best payroll processor for your industry and we expertly handle the funding your payroll.

BusinessCash offers true same-day Payroll Funding. Once an account is established and we receive a fax or an electronically generated copy of the invoice with any backup documentation by 10-11am, funds will typically be wired to your account by 4 pm that day.

Some of the biggest industries in staffing include:

Here is a list of most staffing industry jobs by state:

* from americanstaffing.net

Read more about factoring for the temp staffing industry

Fast funding for staffing comapanies! Call 866-598-4295 or use the fast, safe & secure online-funding application.

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