Payroll factoring is a way for staffing companies to get their invoices converted into immediate capital. Sometimes known as staffing factoring, this option allows companies to get an advance on their invoice values immediately.
At Porter Capital, we offer some of the most competitive advance rates at around 85% to 95% of your invoice. We’re capable of offering invoice factoring up to $10 million per month with low requirements and an incredibly fast and easy application process.
If you’re looking to make payroll and sitting on a stack of unpaid invoices, we can help. With a fast turnaround and a number of financing options available, Porter Capital can help you turn your pending invoices into rapid cash flow sooner rather than later.
Quick Access to Payroll Factoring
With Porter Capital, you can access the value of your invoices faster than ever with payroll factoring. Our approval process is fast and our rates are some of the best around, which means you can make payroll every week without having to worry about unexpected dips or slow-paying customers.
For payroll factoring, we offer rates of 85% to 95% of your invoices in advance. Simply use your pending invoices as collateral and get access to the majority of their value right when you need it, then you get the rest (minus a small factoring fee) once your clients pay their invoice.
Flexible Financing Solutions
Porter Capital works with clients from a variety of industries at all stages of financial growth and expansion. Even if you wouldn’t typically qualify for traditional funding, we look for a way to work with you. We can help even if you’re dealing with previous or current bankruptcy, are in a period of rapid growth, or want to expand your business soon.
Improved Cash Flow
Meeting payroll is a significant part of running a successful business. With Porter Capital’s payroll factoring services, you can access improved cash flow right when you need it. Payroll financing is ideal for improving your business’ immediate capital, whether it’s for making payroll one week or expanding your company’s potential by bringing on new hires.
What Is Staffing Factoring
Staffing factoring is an opportunity to turn outstanding invoices into cash when you need it. By factoring your accounts receivable, you are essentially selling your invoices at a discount to your factoring partner — in exchange, you can have more direct control over when you get paid and how you apply that on-demand capital. Your customer then pays the invoice to the factoring company instead of your business.
We work with staffing agencies across a number of industries all over the United States to provide payroll factoring services. Our quick application process and highly competitive rates make us an excellent factoring partner for companies interested in a more flexible financing option than traditional business loans. Get your employees paid on time, even if customers are dragging their feet.
Some of our regular clients and industries include:
Our process for Staffing Factoring —
Staffing Factoring Qualifications
The best way to know if you’re qualified for staffing factoring is by giving us a call to take a look at your financial situation. On average, a staffing company’s typical qualification includes a minimum of $25,000 per month of revenue or invoices and a business history of two or more years.
Staffing factoring is much like other factoring services, where there is mutual risk and benefit for both parties. In exchange for access to better cash flow and expanded capital on demand, companies essentially sell their invoices to a factoring partner at a competitive rate. Depending on whether you’re using a recourse or non-recourse agreement, your company may be liable for invoices that clients never pay.
On our end, we can negotiate a multitude of different variables between recourse and non-recourse! We take a risk and buy your outstanding invoices in exchange for a small percentage of the invoice and factoring fees. More than anything, we provide access to your funds when you need them, not when a client finally gets around to paying!
Why Porter Capital?
Porter Capital provides access to competitive fees, some of the best staffing factoring rates in the industry, and a quick approval process for funding. If you’re interested in working with us to provide instant capital for your staffing business, we’re happy to discuss a business funding strategy!