In the fast paced staffing and employment services industry, the ability to nimbly grow your business by adding new clients or expand relationships with existing ones is crucial to long term business success. Often this means having access to quick capital that allows you to take advantage of opportunities that present themselves in fast moving markets. Traditional business financing through banking channels is certainly an option, but arduous financial reporting requirements, poor or no credit history, and a slow approval process can hamper your ability grow your business.
There is a viable, low cost alternative available to staffing companies:
Factoring, also known as accounts receivable financing. Factoring for staffing allows you to turn approved hours, timecards, and invoices into immediate cash. Factoring programs are designed to quickly provide working capital, giving you the flexibility to cover operating costs and to fund growth with greater confidence. Although factoring offers a myriad of benefits to growing staffing companies, these three key benefits should always be top of mind when considering whether or not factoring is right for your company:
3 Benefits Of Factoring For Staffing
- It Speeds up cash flow: Factoring can offer same day funding to enter new markets, take on new business, meet payroll and other operating expenses.
- It Lowers administrative costs: Factoring companies offer administrative support including accounting, collections, credit, and invoice mailing with no additional charges, which reduces overhead and increases profitability. Custom processing services including invoicing are often available.
- It helps you make informed decisions: Factoring companies provide free credit reporting services and information to you regarding your customers’ payment habits, allowing you to take on new clients with confidence.
It makes good business sense to grow your company with a reputable factoring company. We hope you will consider Premier Trade Solutions when considering what factoring company to partner with.
About Premier Trade Solutions, Inc.
Premier Trade Solutions, Inc. is a factoring company that specializes in helping staffing companies grow through with timely and affordable factoring products. Premier Trade is a 16 year old, family run business, with offices in Denver, New York, and Dallas. Our knowledgeable team are experts in creating the right product and service offering for your growing business. Just some of the reasons to consider Premier Trade include:
- Broad experience with specific industry know-how on helping staffing agencies manage their financial needs.
- Super competitive rates with no long term contracts, no monthly minimums, and no hidden fees.
- Personalized service with access to key decision makers.
To set up a no obligation consultation to see how Premier Trade can help your staffing company grow, just fill out the form below, or call us at (877) 787.3062. We are looking forward to hearing from you!