Staffing agencies have a business model that is slightly different from most companies. A staffing agency has to market its services, pay for advertisements to find clients, and then have enough cash to cover payroll. A staffing agency sometimes has to wait weeks or months to see a payment for their client, as the employee has to work and submit a timecard before the client will receive a bill. This is where payroll factoring can help.
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 $25 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 turn your pending invoices into rapid cash flow sooner rather than later.