Temporary Staffing Companies are Ideal Candidates for Accounts Receivable Factoring
Factoring for staffing companies is ready-made for the financing needs of both new staffing companies as well as those that have been around for years.
How temporary staffing companies benefit by factoring accounts receivables?
Charter Capital knows that Temporary Staffing Service Companies are subject to constant cash flow limitations due to employee payroll obligations, among other factors. Charter Capital has a long history of providing invoice factoring services for Staffing Companies. Our clients can attest to their competitive advantage due to our credit analysis and collection services.
The use of our back-office support for collections and mailing out of your invoices can sometimes offset the factoring fees or decrease internal overhead related costs.
We are seasoned professionals with decades of industry experience.
We provide factoring services to the following staffing industries:
- Plant Management and Engineers
- Sales – Marketing – Sales Managers
- Accounting – Controllers – CPA’s
- Healthcare – PTs – RNs – CNAs – OTs – MDs
- Data Processing – I.T. – Web Design
- Mid Management – Administrative – Technical
- Office Managers – Administrators
- Full Charge Bookkeepers – Accounting Clerks
- Admin Assistants – Executive – Legal Secretaries
- Clerical – General Office – Data Entry
- Doctor’s Office Assistants – Medical Secretaries
- Call Center Phone Attendants and More
- Assembly – Warehouse – Quality Control – Quality Assurance
- Warehouse distribution
- Skilled – Unskilled Labor
- Light Industrial – Machine Operators
- Fork Lift Operators – Loaders /Unloaders
- Electronics Assembly – Packers
Personalized Service – you have one dedicated person and his or her assistant who handles your account. You don’t have to start over with a new person each time you call.
How Does Invoice Factoring For Staffing Companies Work?
Staffing companies often use invoice factoring to generate positive cash flow. Factoring does not equate to lending, as it is not the same thing as traditional bank loans. It is a financial transaction in which a company sells its invoices for a fee.
Accounts Receivable Factoring for staffing is your means to a powerful business edge.
A factoring company offers non-loan business financing. This allows you to offer generous payment terms to customers and to obtain cash and working capital to increase growth and profits.
With our accounts receivable factoring company you can obtain immediate cash advance to:
- Add additional employees to your staffing agency
- Settle outstanding debt or tax obligations
- Negotiate supplier discounts
- Reduce bank NSF charges
- Underwrite acquisitions of other staffing companies
- To meet critical operating cash obligations such as payroll funding