Invoice Factoring for Staffing Companies
Staffing agencies often have to pay their temporary employees before they collect payment from their clients. This can make it difficult for these agencies to make payroll and cover their other operating expenses. Invoice factoring with Quickpay Funding can help staffing agencies get immediate access to the cash they need to pay their employees and meet their other financial obligations.
Faster Cash
No more waiting 30, 60, or 90+ days to get paid for your completed work. Submit an invoice and get paid the same day.
More Control
We don’t charge minimums, so you’re in control and only need to factor what’s needed to reach your goals.
Accelerated Growth
When you have access to consistent cash flow, your staffing agency can invest in new growth opportunities.
The Fastest Payroll Funding for Staffing Companies
Meet payroll obligations with ease.
Attract and retain top performing talent.
Invest in marketing and sales initiatives.
Improve client satisfaction.
Pursue growth opportunities.
Cover operating expenses.
What is Staffing Factoring?
Staffing factoring is a financial transaction where a staffing agency sells its unpaid invoices to a factoring company at a discounted rate. In return, the factoring company immediately provides the staffing agency with cash, typically up to 90% of the invoice value. This allows the staffing agency to access its cash flow more quickly and improve its working capital.
Imagine you own a staffing agency that places temporary workers at various companies. You invoice these companies for the services of your temporary workers, but it can take 30, 60, or even 90 days for those companies to pay you. This can leave your staffing agency with a cash flow problem, making it difficult to pay your own employees and cover other expenses.
Benefits of Factoring for Staffing Companies
For staffing companies, factoring can be a valuable tool to improve cash flow, reduce risk, and fuel growth. Quickpay Funding is proud to be one of the top choices for staffing companies in North America. Here are some of the key benefits staffing companies can take advantage of when they work with Quickpay Funding:
24/7 Same-Day Funding
We fund all of our clients’ invoices the same day they are submitted. This includes nights, weekends, and even bank holidays.
Back-Office Support
We provide an array of administrative support such as bond filing, collection on unpaid invoices, credit checks, and much more.
No Debt Incurred
Staffing factoring is not a loan, so it does not involve taking on additional debt. Instead, it converts existing accounts receivable into cash.
No Cutoff Times
There are no cutoff times when you fund with Real-Time Payments. When we say we’re open to fund our clients 24/7, we really mean it.
Financial Flexibility
Unlike other factors, we don’t charge minimums. This allows you to adjust your factoring activity during off-peak periods, ensuring a steady cash flow.
Online Management Tools
With the Quickpay Portal you can easily upload your invoices and manage your factoring account online.
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What to Expect from Us
When you choose Quickpay Funding for your staffing factoring needs, you’re choosing a financial partner committed to your success. No two businesses are the same, and that’s why we tailor our financial solutions to create a custom plan that perfectly suits your needs. Our approach is all about understanding your business, its challenges, and its aspirations, allowing us to provide a personalized financial solution that aligns with your goals.
With Quickpay Funding, you can expect more than just a transaction; you can expect a partnership. We take the time to get to know your specific circumstances, ensuring that the financial support we offer is precisely what you need. Our commitment to your success extends beyond mere numbers—it’s about supporting your growth, providing fast and reliable funding, and offering dedicated customer support every step of the way.