Staffing Industry Factoring
The Perfect Way to Ensure a Steady Source of Cash Flow for Staffing Agencies
Staffing agencies are ranked among the vital contributors to the country’s economy providing employment to more than 14 million people every year across occupations including nursing, janitorial, clerical, IT, medical, industrial, hospitality and more.
While these agencies often struggle through finding the right people for the right job, they are typically facing several other backend challenges. These challenges include:
- Cash flow problems
- Inability to meet payroll deadlines
- Inability to pay their tax obligations
- Not enough funds to market and advertise
Employment and staffing agencies require a significant amount of capital to finance their day to day operations and keep their businesses running. Unlike other industries, staffing firms don’t have the option to be late on payroll. This is because agencies that don’t meet their payroll deadlines end up facing serious penalties. They can easily get sued by their workers, fined by the Internal Revenue Service (IRS) and penalized by the US labor department.
The majority of staffing firms face working capital problems because much of their time involves recruiting, training, and placing temporary staff before they are able to send invoices to their clients. In the meantime, the temporary staff employees have to be paid every week. Additionally, firms must also keep up with advertising, marketing, agency staff salaries, rent and other operational expenses. All this requires high business liquidity, which many staffing agencies don’t have. When juggling revenues and expenses becomes difficult, staffing industry factoring may be your best bet. In fact, factoring is becoming one of the most popular and preferred business funding alternatives in the industry.
When it comes to fast and flexible factoring, Carter Funding Corporation is the top choice. We help provide staffing agencies with capital when they need it the most. We provide you with a reliable and steady source of working capital helping you foster business growth and meet ongoing operational expenses with ease. We help you improve your cash flow by providing you effective and flexible factoring solutions.
At Carter Funding Corporation, we offer:
- Factoring application approval within 24 hours
- Up to 90 percent advance rates
- Factoring rates As low as 1 percent per invoice
- Assign a dedicated accounting manager
- Provide initial funding within 3 business days
- Your Factoring Line of Credit with CFC is only limited by the credit worthiness of YOUR customers!
Call 901-685-1571 Today!
See what Carter Funding Corporation can do for you and your business!
Factoring – Staffing Industry
The staffing industry is the most vulnerable sector in the business world. Most of their customers pay at the end of 60 days. It means that players in the industry must be prepared to make payrolls eight times before they get the first payment. This ties down cash and greatly prohibit and hinder business growth. Players in the industry face a massive cash flow issues. Hence they need a partner who they can rely on to finance their operations. This is where Factoring Staffing Industry solutions are critical.
Staffing agencies solely rely on the payments made by their customers who are always many. In some cases, customers need multiple invoices before they make payment. When this happens, they end up with many accounts receivables that are lying idle waiting for payment. This makes it difficult for the company to recruit, train and identify suitable personnel for the present opportunities. This is where staffing industry invoice factoring comes in. Carter Funding Corporation offers agencies the best chance of accessing cash which helps to create a steady cash flow to meet payroll needs. The solution aims at keeping the cash flow consistent to allow the agencies to plan and execute their operation without worrying.
When agencies seek for accounts receivable staffing industry solutions from CFC, they gain control of business because they are guaranteed a steady source of income and the freedom to select the invoices they want to factor. It gives business more flexibility than they would get if they decided to go for loans.
Also, accounts receivable staffing industry solutions come with fewer headaches. Ideally, growing a staffing agency business can be difficult because you will constantly deal with clients who will always lag and drag payments. Factoring Staffing Industry solutions ensure that cash is available within 24 hours.
It is important to remember that unlike other businesses, growth is one of the things that make staffing agencies face cash shortages. Companies in this sector have to deal with multiple pay cycles, which often time do not coincide with the payment of receivables. Luckily, at CFC, we understand that sudden growth can result in cash shortages and hinder expansion. This is why we offer invoice factoring for staffing industry aimed at helping your agency meet its current and future cash needs.
Staffing agencies that provide staff for CAN, Hospitality industry, health care, janitorial staff could greatly benefit from our Staffing Industry Factoring solutions.
Call us now! We would love to hear from you and answer any questions you might have about small business funding request, factoring of ar, payroll factoring and or general invoice factoring questions. We offer industry specific factoring options such as small business bank funding, accounts receivable security industry, technology industry invoice factoring, small business bank funding, invoice factoring government contracts, invoice factoring service industry, manufacturing industry invoice factoring, invoice factoring for staffing industry, accounts receivable funding for amazon vendors, small business cash flow issues and many others. Just give Carter Funding a call to learn more!Questions about invoice factoring explained?
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Carter Funding Corporation
4938 William Arnold Rd
Memphis, TN 38117
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Phone: 901-425-1083
Fax: 901-685-1579