Staffing factoring ensures payroll costs are met
Staffing, contracting and temporary employment agencies have grown considerably in recent years since the Great Recession. Many employers are opting to hire temporary workers before hiring full-time ones to better manage costs. This rapid growth in staffing, however, has left some firms feeling the pinch. While staffing may be a lucrative industry, high payroll expenses make sustainability difficult. Payroll funding for staffing companies with staffing factoring provides the working capital necessary for these firms to thrive. From staffing for high-wage earners such as IT and medical professionals to bulk staffing for tech support, customer service and medical technicians, expenses for staffing firms are high. If not managed properly, the costs of payroll financing can be so high they cause the staffing firm to freeze up due to lack of capital.
Staffing factoring solves payment gap problems
Part of the problem is mismatched payment terms. A client pays the staffing firm in 30-days yet the firm’s payroll must be paid in 2-weeks. Unlike other financial obligations, the penalties for not meeting payroll responsibilities are severe. A staffing firm that can’t pay its contractors isn’t likely to stay in business long let alone thrive. Staffing factoring companies provide fast payment for invoices so staffing firms don’t have to wait 30 days or more to collect payment.
Staffing factoring companies enables them to:
Offer competitive compensation packages to sought-after professionals such as engineers, IT professionals, nurses, medical technicians, physicians, and others.
Have the breadth and financial capacity to hire and cover the compensation costs of seasonal workers in bulk.
Recruit and source top candidates for hard to fill, lucrative positions.
Pay payroll costs on time, every time.
Better promote or advertise their staffing firm.
In the competitive field of staffing and temp employment firms, saying no to a potential client can be devastating. Partnering with staffing factoring companies means you’ll never have to turn away an important client.
The number of regional and national staffing factoring companies has increased over the years as a result of industry growth. Therefore, it is possible to find specialty staffing factoring companies that are familiar with the industry challenges and opportunities. That being said, many large factoring companies offer quality staffing factoring services as well.
Learn More About Staffing Factoring Companies:
- Why Choose Invoice Factoring?
- 6 Tips To Select a Factoring Company
- Factoring Receivables To Increase Business Cash Flow
Search Our List to Find Staffing Factoring Companies Near You:
Riviera Finance
1000 Mansell Exchange Building 300, Suite #340 Alpharetta, GA 30022
10320 Little Patuxent Pkwy Suite 200 Columbia, MD 21244
1925 18th Avenue NE Suite #115 Calgary, AB T2E 7T8
8307 University Executive Park Drive, Suite #250 Charlotte, NC 28262
17 W 415 Roosevelt Rd. Oakbrook Terrace, IL 60181
1333 Corporate Dr. Suite 117 Irving,TX 75063
8400 E. Prentice Ave. Suite 1500 Greenwood Village, CO 80111
11601 Pellicano Dr., Ste. B-5 El Paso, TX 79936
50 Harrison St. Suite #310-G Hoboken, NJ 07030
8410 N. Sam Houston Pkwy W Houston, TX 77064
3635 Quakerbridge Road Suite #4 Mercerville, NJ 08619
5870 SW 8th Street Suite # 6 Miami, FL 33144
3470 Washington Drive Suite #206 Eagan, MN 55122
3102 West End Ave. Suite 400 Nashville, TN 37203
4334 Northwest Expressway Suite 242 Oklahoma City, OK 73116
1 International Plaza Suite 550 Philadelphia, PA 19113
1029 H St. Suite 102 Sacramento, CA 95814
2025 Gateway Place Suite #370 San Jose, CA 95110
10430-1 Pioneer Blvd. Santa Fe Springs, CA 90670
1100 Dexter Avenue N. Suite #100 Seattle, WA 98109
2605 Enterprise Road East Suite #250 Clearwater, FL 33759
5780 Timberlea Blvd. Suite #103 Mississauga, ON L4W4W8
310 Airport Road Suite #500 Williston, ND 58801
1100 Dexter Avenue N. Suite #100 Seattle, WA 98109
800-872-7484
Stonebridge Financial Services
330 Franklin Rd, Suite 135A-592, Brentwood, Tennessee, 37027
(615) 661-8245
American Receivable Corporation
12655 N Central Expressway, STE 675 Dallas, Texas 75243
(800) 297-6652
Great Plains Transportation Services, Inc.
923 N State St, Fairmont, Minnesota, 56031
(800) 324-8214
Diversified Transportation Finance
3100 Pinebrook Rd. Suite 2200, Park City, UT, 84098
(801) 821-0355
Merchant Factors
1441 Broadway, 22nd Floor New York, NY 10018
6750 North Andrew Ave, Suite 200 Fort Lauderdale FL 33309
(213) 347-0101
ALLEGIANT BUSINESS FINANCE
600 university st.ste#2328 seattle, WA(Washington), Seattle, Washington, 98101
(866) 377-0800
New Century Financial
1725 Hughes Landing Blvd., Suite 965, The Woodlands, Texas, 77380
800-805-8380
Graystone Capital (now SVBusiness Capital)
900 E Hamilton Ave #100,, Campbell, CA, 95008
(888) 370-7779
Nationwide Transport Finance
2650 Lake Sahara Drive – Suite 200, Las Vegas, Nevada, 89117
(800) 624-3353
Liquid Capital of South Texas
11703 Huebner Rd, San Antonio, TX 78230, San Antonio, Texas, 78230
210.587.7267
Universal Funding
16201 East Indiana Avenue Suite 2600, Spokane Valley, Washington, 99216
800.405.6035
eCapital Freight Factoring
10100 W. Charleston Blvd Suite 220, Las Vegas, Nevada, 89135
800.705.1500
Factoring Solutions
Suite 304, 320 - 12th Ave NE Calgary, AB, Canada T2E 1A4
5462 South Perimeter Drive Kelowna, BC, Canada V1W 5C6
403-452-6227
Gibralter Business Capital
400 Skokie Blvd #375 Northbrook,, Northbrook, Illinois, 60062
(847) 272-9618
Accord Financial Group
3500 Boul De Maisonneuve O Suite 1510 Montreal, QC H3Z 3C1, Canada
800-231-2977
Liquid Capital
5734 Yonge St. Suite 400 North York, ON M2M 4E7
5525 N MacArthur Blvd Ste 625 Irving, TX 55038
1-844-228-0800
Robinson Factors, Incorporation
244 Fifth Avenue · Suite W226 , New York, New York , 10001
(212) 498-9756
CarrierNet Group Financial
500 W 10th St, Sioux Falls, SD 57104, USA, Sioux Falls, South Dakota, 57104
(877) 747-2807
