STAFFING FACTORING
With over 20 years of experience with factoring and
the staffing industry, Vast
Funding has become specialists in providing
temporary staffing firms with their cash flow needs
through factoring.
It is very common for staffing firms to come across
cash challenges during times of growth. Especially
dealing with all the different pay cycles, meeting
payroll can become difficult. Many staffing firms
will turn to payroll funding or factoring to get them
though their time of need. While payroll funding is
a good option for some staffing firms, factoring offers
more flexibility.
Vast Funding specializes in
factoring for the staffing industry.
At a glance, here are some of the differences between
having Payroll Funding or having Factoring with a
staffing company:
PAYROLL FUNDING:
Funding only the payroll portion of the invoices.
- Long-term contracts
- In most cases the staffing firm must submit all
time cards
- No Credit guarantee
- Funding Company takes over all invoices payroll
and tax processing
FACTORING WITH VAST FUNDING:
Funding of "all" invoices. The staffing
firm may use the funds for lots of different purposes,
such as payroll, marketing, expanding, etc.
- There are no long-term contracts required
- Staffing firm has total control over which invoices
they want to submit to us.
- Credit guarantee, in factored invoices
- Will fund into staffing firm's payroll account with
in 24 hours
- Staffing firm manages all of the payroll, insurance,
etc
The benefits of factoring with VAST FUNDING really
come down to adding profit to your company. Before
you factor, make sure you can take advantage of all
the features of factoring and leverage them into your
companies value:
TAKE ON ADDITIONAL BUSINESS
Most of our staffing clients can do more business
when they have better cash flow. Some prime examples
are.
- Immediate access to your working capital
- Shifting your manpower from collection to marketing
for growth of your company
- Meeting your businesses payroll efficiently and
consistently
REDUCE EXPENSES
Many of our clients in the staffing industry actually
reduce thier companies expenses by outsourcing credit
and administration to VAST FUNDING, and by leveraging
their healthy cash position. The most common ways
include:
- Eliminating bad debt
- Reducing your companies collection and administrative
expenses
IMPROVE YOUR FINANCIAL CONDITION
Exchanging your companies invoices for cash enables
some staffing businesses to get current, remain current
or reduce strains caused by tight cash flow. It also
improves their own credit rating which is critical
to do business with larger customers. Here are some
examples we frequently see:
- Meeting companies regular payroll obligations
- Bringing payroll taxes to current standing
- Reaching a higher quality customer base
- How can YOUR Temporary Staffing company benefit
from Factoring?
Every staffing company has it's own unique situation.
Fill out our short contact and quote form and a Vast
Funding rep. will go over any questions you may have
about factoring.
Vast Funding specializes in factoring staffing accounts
receivables.
