Staffing Payroll Factoring Services
As one of the top staffing factoring companies in the U.S., we offer competitive rates and fees, but that’s not the only reason employment services firms looking for receivables financing and staffing payroll factoring programs should consider DB Squared.
Staffing Factoring and Staffing Payroll Factoring Advances and Fees
Our fees are competitive and our receivables advance rates are among the highest in the industry. Temporary employment and staffing agencies that factor receivables with DB Squared enjoy:
- Low factoring rates – as low as 1%
- High factoring and payroll funding advances – up to 98%
- No monthly minimums – factor staffing agency invoices only when you choose
- Get the benefits of non-recourse factoring services without paying more
- No long term contracts
- No hidden fees or add-on fees that jack-up the real costs of factoring
- No application or due diligence fees
- Free credit checks on your customers
We believe that when you compare the terms of our staffing factoring and staffing payroll funding agreements, you’ll find that our program stacks up favorably to most – if not all. In addition, we deliver these services with a consistently high level of customer service through dedicated account managers who understand your agency’s needs and preferences.
We want to help you grow from where you are today, to where you want to be tomorrow.
Even if you are already factoring, we would be happy to provide you with a free, no-obligation quote for staffing factoring and staffing payroll factoring services for comparison so that you can be sure you have the program that is best-suited for helping you grow your agency.
Get a free, no-obligation quote for staffing factoring or staffing payroll funding solutions by completing the quick quote form below or applying online.
What is Staffing Payroll Factoring (or Staffing Payroll Funding)?
Rather than viewing factoring as a simple cash flow financing solution, some agencies view it as a tool for staffing payroll factoring. Payroll is one of the largest expenses for a staffing agency or temporary services firm and sometimes several pay periods may even occur before a client’s first invoice is due. Using staffing payroll factoring services frees up the working capital in customer invoices immediately, ensuring that an agency has adequate cash reserves on hand to meet payroll and related expenses.
Staffing Agency Factoring or Payroll Funding as a Cash Flow Solution
Factoring staffing invoices can free up the working capital an agency needs to meet payroll and expenses so that they can land new business or take on bigger client accounts more quickly. Since staffing and temporary employment agencies often invest a considerable amount of resources in recruiting, hiring and placing candidates before a customer’s first invoice is even generated, this can be an ideal way to ensure that cash flow keeps pace with operational costs.
Agencies that factor invoices to expedite cash flow improve their ability to meet operational expenses and fund payroll, but that’s not all. Agencies that factor can also use improved cash flow to negotiate discounts with their suppliers and extend generous payment terms to clients as a competitive advantage. This could be key for a growing agency, especially in their efforts to land new and potentially larger accounts, or even place more employees with an existing client.
What are Staffing Factoring Services?
When staffing and temporary employment agencies factor customer invoices, they can get the money clients owe them on the same day an invoice is generated, rather than 30, 45 or even as long as 90 days later when the customer actually pays.
Invoice factoring is a cash flow financing solution that can be used by employment agencies as well as other types of businesses that invoice clients for payment. It expedites cash flow by unlocking the money tied up in customer invoices, without waiting for customers to pay. Here’s how the process might work:
Is Staffing Payroll Factoring Different than Invoice Factoring?
Although some Factors differentiate between staffing factoring and staffing payroll factoring services, the only real difference lies in how the agency chooses to use as a financing tool. One reason Factors may offer financing with this distinction could lie in contractual terms where they require that an agency factor monthly minimums or factor all customer invoices, even if it’s not in the agency’s best interest to do so.
At DB Squared, staffing factoring services are the same as staffing payroll funding, since we leave the control of when to factor, which invoices to factor, and the dollar amount of invoices to factor up to the employment agencies factoring with us. We want our clients to be free to do what they feel is in the best interest of their agency.