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.
Fast Growing Staffing Agencies use this type of financing to increase their cash flow for daily expenses.
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.
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.