There are many cases in which you may need to rapidly increase the workforce at your company for a specific job to be completed on time, but you may not have the working capital to fund the immediate growth of your company. You know the money is coming as soon as you complete the job, but you don’t have it yet and there is not enough time to go through a lengthy loan process. Consider staffing factoring, or staffing industry financing which will allow you to receive an advance on your account receivables, giving you the ability to expand your workforce before the invoice is paid.
What Does Staffing Factoring Mean?
Staffing factoring through invoice factoring means that you will prepare your invoice as usual, with the exception that we buy the account receivables from you, advancing you up to 80% of the funds, which gives you the monetary freedom to hire the necessary staff. After your client has paid their invoice, we will release the remaining funds to you, minus a factoring fee.
Staffing factoring is not a loan, because it is defined as the purchase of accounts receivable, which allows your credit to remain intact.