A huge obstacle for any temporary staffing agency is that payroll is typically paid weekly while customers may not pay for 30, 45, or even 60 or more days. This timing difference creates a cash flow shortfall, making factoring a perfect fit by turning unpaid invoices into immediate cash. Factoring companies close the gap between weekly payrolls and customers’ payments.
How can Staffing Companies Benefit by working with a factoring company like CFR?
- Receive working capital fast
- Confidently fund weekly payroll and other expenses with reliable, consistent cash flow.
- Choose to factor as many of your eligible invoices as needed to cover expenses
- Have ready access to guidance and consulting
- Eliminate trips to the bank to deposit checks
- Retain copies of all checks received from customers
- Offload office support like credit approval, contract review and risk assessment
- Accept new opportunities by having the capital to grow
For over a decade, Cash Flow Resources (“CFR”) has been providing factoring payroll solutions for staffing agencies. We understand your unique issues such as payroll, workers compensation, and seasonality. Whether you are a start-up or an established growing company, CFR is dedicated to providing a customized solution to help your business succeed. Funding is available for all types of temporary staffing companies, including: IT, security guards, laborers, nurses, legal aids along with accounting, administrative, financial, and healthcare positions.