IT staffing services are vital to ensuring other businesses run efficiently and often require flexible funding options.
IT staffing services are vital to ensuring businesses can run efficiently. But, running a staffing company often requires fast and flexible funding to ensure that payroll for your most important resource, your people. We’ve compiled the top 10 reasons that IT staffing services may want to consider invoice financing or “factoring” for competitive lending rates to smooth cash flow and keep your business working efficiently.
1. Reliable Cash Flow
Invoice financing or “factoring” offers advances on your billed or unbilled accounts receivables.
With invoice financing IT staffing companies can get up to 97% on the total invoice value in advance to grow their business.
Invoice financing is more flexible than traditional financing. Look for a provider that offers both recourse and non-recourse options.
4. Value of Time
Invoice of financing is a good option to even cash flow and can offer eligibility on invoices up to 120 days
5. Working Capital
When choosing invoice financing, look for a lender that offers term loans up to $500,000
And, be sure to choose an established provider that can offer lines credit of up to $15 million
It’s important to choose an invoice financier that won’t lock you into any restrictive financial covenants that could hamper your growth in the long term
Look for a lender that has an established track record. Porter Capital has been in business more than 25 years
Take the long view with your business. Invoice factoring can fund additional growth by leveraging the A/R of target companies to fund acquisitions
We know that price is important and that’s why Porter Capital offers the most competitive rates in the industry.