We Deliver The FUNDS
Financing Staffing Agencies
0.69% to 1.59%
What Is Invoice Factoring For Staffing Agencies?
Invoice factoring for staffing agencies is a financial solution that helps staffing agencies improve their cash flow by providing immediate access to funds. Staffing agencies often face challenges due to the time gap between paying their employees and receiving payment from their clients. Invoice factoring allows staffing agencies to sell their accounts receivable (unpaid invoices) to a factoring staffing company at a discounted rate.
Is your Staffing Company growing faster than your operating capital?
1st Commercial Credit can help you grow your staffing agency with unlimited payroll funding , whether you're a start up or a multi-million dollar operation. Meeting staffing payroll during growth can be a challenge. Financing staffing agencies is a very simple process for us.
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.
We can accommodate receivable based credit lines to new temporary staffing companies with minimal funding needs. Another option is our our asset based lending solutions for large staffing agencies that can go up to $10 million if needed.
Flexible Approvals with our Staffing Factoring Company Service:
At 1st Commercial Credit, our accounts receivable financing service is a flexible source of funds for temporary staffing companies. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. The receivable credit line grows proportionately with your sales cycle and we can fund as little as $10,000 a month and up to $10 million for larger staffing companies.
We fund staffing agencies every week for the first time, and they usually invoice once a week thereafter. Our clients require funding as soon as they invoice so they can replenish their payroll checking account by Wednesday of every week.
Benefits Of Funding For Staffing Companies?
1st Commercial Credit funds all temporary staffing agencies, regardless of industry, size, or time in business. We provide financial solutions for startup staffing companies and well-established staffing firms. We also have extensive experience providing medical staffing factoring for the healthcare industry. Receivable financing offers a reliable and consistent source of working capital to alleviate cash flow issues. Your company will now be able to cover pressing costs, manage growth, and take on new contracts and opportunities.
Factoring is an ideal funding option for businesses just starting up or for those companies who have had difficulties obtaining a traditional form of financing. For bank loans, time in business and ideal credit history is a must to qualify. When companies don’t fulfill these requirements, they will be turned down by banks and need to find an alternative form to finance their business. The good news is that with 1st Commercial Credit, you only need to have outstanding invoices from creditworthy customers, and approval takes 3 to 5 days.
How To Receive Funding For Staffing Companies?
1st Commercial Credit delivers a quick and simple approval process for temp staffing with funding in 3-5 days. As a business, having to wait months to be paid for your temporary staffing services can hugely affect your ability to meet payroll and pay taxes on time. In addition, the lack of cash flow prevents you from expanding your staffing agency and hiring new temporary employees. This situation can halt the growth and ability to take on big contracts. 1st Commercial Credit specializes in providing lending options for staffing companies and has an efficient and fast application and funding process.
Staffing factoring is a practical financial alternative for short-term or long-term financing needs for staffing firms of all sizes and stages. 1st Commercial Credit is a company that factors receivables in the healthcare services industry. We understand the unique challenges faced by staffing firms in hospitals, medical clinics, nursing homes, and long-term care facilities.
We know that well-managed, profitable small and mid-sized staffing agencies will experience cash flow difficulties as they grow rapidly. This is why we strive to make the funding process for staffing agency loans easy and accessible. We will evaluate your company's needs and goals to choose a funding program that will fulfill all of your business needs. Once you've completed our short 2-page application form online and have been approved for a financing receivables program, we will pay you for the outstanding invoices within 24 hours.
What Types Of Staffing Agencies Services Come To Us For Funding?
Usually, fast growing staffing agencies use this type of financing to increase their cash flow for daily expenses. At 1st Commercial Credit, we finance staffing agencies with as little as $10,000 a month to $10 million for larger agencies. Most of our clients come to us with common cash flow problems:
There is no need to borrow money if you have uncollected receivables from good credit worthy accounts. Here are the different types of staffing agencies services that come to us for funding:
Professional
Office Services
Manufacturing
1st Commercial Credit is an invoice factoring company that funds many staffing industries.
Requirements To Apply For Staffing Factoring
Very Limited documentation is required up to $350,000.
1st Commercial Credit makes applying for a receivable based line of credit very simple.
Staffing agencies take advantage of their outstanding invoices and convert them to cash flow. A factoring credit line based on percentage of eligible accounts receivable. Easy to understand financing fees. Invoices funded within 24hrs. Eliminate the need for bank loans or SBA loans. Funding can take place in 3 to 5 working days.
What Are Our Staffing Factoring Rates?
1st Commercial Credit staffing financing rates go from 0.69% to 1.59%. wWe understand the unique needs of staffing businesses. We fund staffing agencies every day, ensuring a consistent cash flow to meet your financial requirements. Our factoring program requires no upfront fees for setup, and we accept low credit scores, making it accessible to a wide range of businesses. Additionally, we provide free invoicing software to streamline your operations.
With over 20 years in the industry, our experience is your advantage. Our fast approval process and no financials required policy mean you can get started quickly, typically with a 3 to 5-day initial setup. We also offer a free uploading funding app to simplify the process, helping you focus on what you do best – running your staffing agency.
FAQ About Staffing Agencies
Are staffing agency jobs only temporary or contract positions?
No, staffing agencies offer a variety of job types, including temporary, contract, temp-to-hire, and permanent positions. Job duration varies depending on the specific role and client company's needs.
Can I work with multiple staffing agencies at once?
Yes, you can work with multiple staffing agencies simultaneously. However, it's essential to inform each agency about your dual representation to prevent conflicts and ensure transparency.
Recent Transactions:
$600,000 | Invoice Factoring for IT Staffing Agency w/ Bank Subordination
$2 Million | Accounts Receivable Funding for Travel Nurse Staffing Agency
$350,000 | Receivable Financing for a Respiratory Therapist Staffing Agency
