How Does Accounts Receivable Factoring Work for Staffing Agencies?
ARC will work to understand your staffing company’s specific goals and objectives and match you with a staffing factor that best fits your needs. The factor will then purchase your unpaid staffing invoices and advance you up to 90 percent of the original invoice amount within 24 hours. The factor will then collect payments directly from your customers. Once payment is collected, the staffing factor will send you the remainder of the money minus a small factoring fee. Approval to begin factoring takes as little as 3-5 business days.
Factoring your staffing receivables does not work like a loan. Staffing agency factoring turns your accounts receivables into immediate cash to cover costs. Your ability to factor depends on your customer’s creditworthiness, meaning if your company has bad credit or lack of history you can still qualify. ARC will customize the staffing factoring plan to your company’s specific needs.
Advantages of Staffing Factoring Services
- Cash today to make your payroll on time
- Does not create debt
- Cash to grow your business
- Quick and easy application process
- Lowest factoring rates in the industry
- No minimum amounts required for invoices
- No financial statements needed
How can Payroll Factoring Benefit Temporary Staffing Agencies?
Is staffing factoring the solution to your payroll needs? Accounts Receivable Cash helps businesses with cash flow challenges find the right factor. ARC has extensive experience assisting temporary staffing agencies with factoring their receivables whose customers are slow to pay. We also help growing businesses with little or no credit. These types of companies are funded based on their customer’s credit worthiness. Staffing agencies in need of capital to cover payroll and businesses facing seasonal sales patterns are also a part of our expertise.
Let ARC help grow your staffing business today! Call us at 866-937-8146 to get a free quote.