As Your Business Grows
We Deliver The FUNDS
We Deliver The FUNDS
Temporary staffing agencies provide needed services for both employers and potential job applicants. Applicants looking for work experience or temporary incomes can benefit from the positions available through staffing agencies. Companies wanting to pre-screen potential full-time workers or fill temporary work assignments can also benefit.
Start Today and get initial funding in 3 to 5 working days. No financials needed, no up-front fees to set up, it is that easy.
And while temp agencies do fill a genuine need, the “middleman” position they fill can make it difficult to develop a strong financial base for future growth. Fortunately, specialty lenders can provide the type of financing needed to help temp agencies better manage their available assets and resources.
More Information at Lending Options for Staffing Companies
Flexible Approvals with our Invoice Factoring Funding
Temporary staffing agencies are set up to service a range of different industries. Some agencies specialize in one area, such as medical, accounting or sales while others may work within several different areas.
The more specialized agencies typically have certain applicant requirements in terms of education and work experience. Agencies that work within different industries often have more entry-level positions, such as customer service, assembly-line work and administrative positions.
The open job positions found in staffing agencies are developed through contract agreements made with local and regional employers who have jobs to fill. In addition to finding people to fill these positions, staffing agencies also handle much of the administration and paperwork that's normally done by employers, such as payroll taxes and hirings and terminations.
As a contract-based business, temporary staffing agencies receive payments from employers for work completed by temp employees on a monthly or bimonthly basis, while employees are typically paid on a weekly or biweekly basis.
As a result, the time lag between contract payments and payroll schedules can place a considerable strain on an agency's cash-flow needs.
The open job positions found in staffing agencies are developed through contract agreements made with local and regional employers who have jobs to fill. In addition to finding people to fill these positions, staffing agencies also handle much of the administration and paperwork that's normally done by employers, such as payroll taxes and hirings and terminations.
1st Commercial Credit is an experienced lending company providing a payroll line of credit for staffing companies and recruiting agencies. The types of services offered by staffing companies are fundamental and vital to connect employees and employers. In this industry, payroll is the responsibility of the staffing firm. Payroll funding needs to occur before clients pay and can cause some financial challenges if clients have extended payment terms for these services.
When cash flow becomes strained, a payroll funding company for staffing companies can help by providing financial solutions. On some occasions, clients can take anywhere from 30 to 90 days before paying you, but payroll is still due every week or biweekly. The overall costs of funding can affect your business and put you in a difficult situation financially.
1st Commercial Credit offers payroll funding solutions so you can continue running a successful enterprise and take advantage of many other possibilities.
We provide invoice factoring for funding staffing agencies and buy their unpaid invoices for immediate cash—no need to wait weeks or months for payments when you can have fast cash today. When you set up an account with 1st Commercial Credit and assign an agreement, you will receive a cash advance for your invoices. This advance will vary depending on the industry. The factoring company will keep a percentage of the total invoice value, which is considered the factoring fee. These fees are calculated based on your client’s creditworthiness and the length they take to pay.
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