Temporary Staffing Companies are Ideal Candidates for Accounts Receivable Factoring
Factoring for staffing companies is ready-made for the financing needs of both new staffing companies as well as those that have been around for years.
Benefits of Accounts Receivable Factoring for Temporary Staffing Agencies?
Charter Capital is an experienced staffing factoring company. As such, we understand that temporary staffing service companies face constant cash flow challenges due to employee payroll obligations and other important factors. Charter Capital has a long track record of providing invoice factoring services to staffing companies that make these obligations easier to handle. Our credit analysis and collection services have helped many of our clients gain a competitive edge in their industry.
The use of our back-office support for collections and mailing out of your invoices can sometimes offset the factoring fees or decrease internal overhead-related costs.
We are seasoned professionals with decades of industry experience.
We Provide Factoring Services to the Following Staffing Industries:
- Plant Management and Engineers
- Sales – Marketing – Sales Managers
- Accounting – Controllers – CPA’s
- Healthcare – PTs – RNs – CNAs – OTs – MDs
- Data Processing – I.T. – Web Design
- Mid Management – Administrative – Technical
- Office Managers – Administrators
- Full Charge Bookkeepers – Accounting Clerks
- Admin Assistants – Executive – Legal Secretaries
- Clerical – General Office – Data Entry
- Doctor’s Office Assistants – Medical Secretaries
- Call Center Phone Attendants and More
- Assembly – Warehouse – Quality Control – Quality Assurance
- Warehouse distribution
- Skilled – Unskilled Labor
- Light Industrial – Machine Operators
- Fork Lift Operators – Loaders /Unloaders
- Electronics Assembly – Packers
Personalized Service – you have one dedicated person and his or her assistant who handles your account. You don’t have to start over with a new person each time you call.
How Does Invoice Factoring For Staffing Companies Work?
Invoice factoring is a common service used by staffing firms to generate positive cash flow. Factoring for staffing agencies is not the same as lending and is not classified as a loan. It’s a financial transaction between a factoring company and its client whereby a business sells its unpaid invoices to the factor in exchange for a percentage of the invoice value. Your business is paid upfront for the open invoices, and the factor does all the work of collecting the money from your customers. Once all the invoice payments have been received, the factor pays back the remaining balance to your company – minus a small fee known as the factoring fee. It is easy to get approval for, you get consistent cash flow, you don’t acquire bad credit, and you can focus on growing your business; this makes factoring one of the best staffing financing options available.
Accounts Receivable Factoring for Staffing is Your Means to a Powerful Business Edge.
A staffing factoring company offers non-loan business financing. This allows you to offer generous payment terms to customers and to obtain cash and working capital to increase growth and profits.
With Our Accounts Receivable Factoring Company, You Can Obtain an Immediate Cash Advance to:
- Add additional employees to your staffing business
- Settle outstanding debt or tax obligations
- Negotiate supplier discounts
- Reduce bank NSF charges
- Underwrite acquisitions of other staffing companies
- To meet critical operating cash obligations such as payroll funding