Payroll funding is a creative, flexible way to fuel your staffing firm’s growth without the restrictions and red tape of traditional bank loans or lines of credit.
Unsure if applying is your next step?
What is Payroll Funding?
Also known as invoice factoring, invoice financing or A/R funding, payroll funding allows you to sell your accounts receivable for cash to meet payroll for 1099 employees, independent contractors, and other staff. Payroll financing is designed to help your staffing company make payroll before you are paid by your customers.
Fund Your Consulting and Temporary Staffing Firm Payroll
Advance Partners provides invoice factoring for staffing, recruitment and temp companies. We buy your outstanding invoices and provide you with as much working capital as you need to run payroll, take on new opportunities, and grow your firm.
FUNDING AND LENDING
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Quick access to capital is just the start. Explore the world of payroll services that come with our funding solutions.
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FREQUENTLY ASKED QUESTIONS
Invoice factoring is when a business sells its outstanding accounts receivable to a third party exchange for immediate liquid capital, less a fee.
Invoice factoring is designed specifically for businesses like staffing because of the unique payment structure. In staffing, you often have to wait 30-90 days for payment from your clients, while you pay your staff weekly. This can cause a cash flow nightmare, and be limiting to your growth. Invoice factoring gives you the cash necessary to grow without having to worry about making payroll.
No difference. Payroll funding is the term we use when talking about invoice factoring specifically for the staffing industry.
Full service is an add-on service where the same third party that does your invoice factoring will also do back office tasks like creating and processing invoices, processing payroll, and doing payroll taxes.