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What You Need to Know About Staffing Factoring

What You Need to Know About Staffing Factoring

As a small business owner in the staffing sector, you know that there are more things to worry about than just how great your website is. You are in charge of making sure that you have the right people ready to go out on assignment to your customers at a moment’s notice and that everyone gets paid on time, whether your customers pay you on time or not. At Eagle Business Credit in Kennesaw, GA, we know that this can be a problem for new or fast growing businesses. But there is help, and it is called staffing factoring.

Accounts Receivable

Chances are that your company has to extend favorable credit terms to the business customers that you work with. If you have a contract with a business that pays its bill on the 30th of the month, but you pay your employees every week, you need to find a way to meet payroll. A good discount factoring firm can help you do so. Essentially, you sell the accounts receivable to the factoring business in exchange for cash up front so that you have the cash on hand you needto pay your employees according to their time cards.

Running a Payroll

Some factoring companies will provide you with full payroll services. You can focus on finding the right staff for your customers and not worry about handling the administration of your employees’payroll. Since you are selling your accounts receivable, you may not even have to worry about having to collect on companies that delay paying their bills. Staffing factoring in Kennesaw, GA, can take a lot of work and worry off the back of a small business owner. You just need to find the right solution for you.