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Posts Tagged ‘payroll funding’
How Full-Service Payroll Factoring Enables New Staffing Businesses to Thrive
The financial choices you make during the early stages of your staffing firm are critical to its growth, and among those choices is how to fund payroll. Your first instinct may be to look to banks as a payroll funding solution. But the long application and approval processes, many fees, and strict covenant requirements typical…
Read MoreHow to Start a Temp Staffing Agency in 6 Steps
Creating your own business may seem daunting, but staying organized and focused is key. Follow our six steps on how to start a staffing agency and you’ll be well positioned for future success. 1. Gain Staffing Industry Experience Too many people try to start their own company with little to no experience in the…
Read MoreSigns That It Might Be Time to Find a New Payroll Funding Company
Given the importance of a payroll funding company to the continuity of your staffing firm, it’s critical to take the time to review the relationship and look for warning signs that your provider might be underperforming. When reviewing your payroll funding partner, consider whether full-service or money-only best serves your business. In addition to advancing…
Read MoreHow Payroll Factoring Helps With Accounts Payable
In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult…
Read MoreWhat is Payroll Factoring?
Staffing agencies have a wide range of financial obligations, including workers’ compensation insurance, advertising and marketing, and office equipment and upkeep. Yet one of the biggest financial challenges is payroll factoring for staffing companies. Many staffing agencies choose to finance their payroll invoices through a factoring company such as Encore Funding. But what is payroll factoring…
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