Are you looking for Factoring Companies for Staffing Agencies?

If you are looking for Factoring Companies for Staffing Agencies, look no further.  Our expert agents are here to assist your business and find you the best invoice factoring rates for you.

 

You may be thinking “What is Invoice Factoring – and how can it be beneficial for staffing agencies? In short: you simply sell your invoices, minus a small fee. Our invoice finance partners will then carry out due diligence, and then advance up to 95% of the invoice, providing immediate cash flow for you to use for your business needs. Whilst clawing back some of your free time as you don’t have to chase customer payments.

Key Features

Receive up to 95% of your sales invoice

With business invoice factoring, approval is quick and easy.  In most cases you can get paid for your invoices in 24 hours.

Improves personal wellbeing

Invoice Factoring helps reduce payroll stress, giving you access to cash to meet weekly, or monthly payroll commitments.

Forward planning for success

Want to replenish stock? With competetive invoice factoring rates, it will mean no more waiting for your customers payments.  This will allow you to purchase supplies quicker.

Supporting you and your business

The lender takes over the running of your credit control, a dedicated team of experienced professionals, who will manage your collections, reducing late payments and the risk of bad debts.

The best factoring companies for staffing agencies

The last thing a growing business needs is to incur more debt, and so we keep invoice factoring costs down.  Invoice Factoring allows you to get the capital you need when you need it, and grows as your business grows.

Quick Apply Now!

It's easy to get started with our quick apply form.

Click the button on the right to bring up the application form.  Fill out a few simple questions and we will get back to you as soon as possible.

How does Invoicing Factoring Work?

Companies that are using factoring for staffing agencies do not have to wait for their customers to pay their invoices. Instead, we purchase your invoice and collect the payments from your customers. You do the work, sell the invoice, and typically get up to 95% of the invoice value immediately. Once payment from your customer has been received, we will send you the remaining balance, minus our fees.

How does Invoice Factoring work?

A guide in 5 simple steps:
1. You process the invoice to your clients

Provide your service or product, on your agreed terms.

2. Flexibility in the Invoices you sell

You can tailor your facility to gain funding from one invoice, multiple or your whole sales ledger. Our partnered lenders will purchase the debt that has been agreed with you.

3. Receive up to 95% upfront

Most lenders will allow you to receive up to 95% of your invoice value

4. Cash Collection

Our partnered lenders will manage credit control, and your customer pays the invoice factoring company directly.

5. Receive final balance

Once payment has been received, the balance, minus and fees and charges will be made available to you.

Invoice Factoring Costs

When searching for factoring companies for staffing agencies, the costs involved vary from business to business. It is important that you understand the invoice factoring rates associated with running an invoice factoring facility.

Application / Commitment Cost

Some lenders will charge a fee to carry out due diligence, and some do not.

Service Fee

The invoice factoring costs will include a service fee for the day to day administration of the facility charged as a percentage of the gross invoice value.

Is invoice factoring the right solution for your business?

Invoice factoring is a viable funding solution for many business sectors including: Staffing agencies, Haulage, Construction, Manufacturing and many more.  With the COVID-19 pandemic crippling business cashflow, it is becoming a crucial role in businesses staying afloat.

Business owners are great at making their product and providing their service. Cashflow will always be ‘king’, and with small business invoice factoring the pain, headache or worry about cash is taken away.

Invoice Factoring gives SME business owners the opportunity to access cash from invoices, but just as importantly it also gives the gift of time. The time you or your team spend managing your credit control. You can focus instead on achieving your business goals without the typical cashflow problems you were experiencing before invoice factoring.

Are you looking for factoring companies for staffing agencies to unlock cash from your invoices?  Give us a call today on 01332 896 020 and we could help you with the right funding solution.

Invoice Finance Costs

Invoice Finance costs vary from business to business but are broadly split into the following categories:

 

Arrangement Fee / Survey Cost 

Some lenders will charge a fee to carry out due diligence, known as a survey and there may also be an arrangement fee.  This is the cost of setting up the facility. Some will also charge a small annual renewal fee thereafter.

 

Service Fee 

The Invoice Discounting Costs include a service fee for the day to day administration of the facility, usually charged as a percentage of the gross invoice value but sometimes this can be a pre-agreed fixed monthly amount. When this is charged as a percentage, there is often a minimum monthly charge agreed at the outset.

 

Discount Fee 

This is calculated as a percentage of the total funds you borrow.  

 

Ancillary costs

Some invoice finance companies will charge additional ancillary fees, which can include CHAPS payment charges for when you need to draw down funds on the same day.

 

Contact us to speak to one of our experts and find out if Invoice Finance is the right solution for your business and for tailored quotes.

Invoice factoring

Quick Enquire Now!

It's easy to get started with our quick apply form.

Make an enquiry by clicking the button on the right and we will contact you shortly to discuss your requirements