Payroll Financing
What is Payroll Financing?
Payroll financing is a type of business financing that allows companies to borrow money to cover the cost of their payroll. This is particularly useful for small and medium-sized businesses that may experience cash flow problems or have difficulty accessing traditional bank loans. With payroll financing, a lender will advance a portion of the company's anticipated payroll, which the company then uses to pay its employees.
There are a few different types of payroll financing, including invoice financing, which involves borrowing money against outstanding invoices, and asset-based lending, which involves borrowing against a company's assets such as accounts receivable, inventory or equipment. Payroll financing can be a short-term or long-term financing solution depending on the needs of the company.
The GO Funding team evaluates your specific business objectives and requirements. We can place you with the right organization based on our years of experience and extensive financial partnership network.
With a proven track record of getting businesses funded quickly, we can help you skip a few steps that would otherwise require you to contact multiple factoring companies.
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Payroll is one of the most important aspects of running a business, no matter what industry you're in or what type of company you own. Because your employees are the heart of your business and are regarded as an asset, getting them paid is critical to your growth and success.
Payroll funding is a straightforward method of paying employees and getting them paid on time. When you own a business, your cash flow fluctuates, so payroll financing is a solution for times when you don't have enough cash to pay your employees. However, it's critical to understand what payroll funding is, how the process works, and the costs involved.
Invoice Factoring benefits for Payroll
The advantages of using this method of financing extend beyond positive cash flow.
Payroll financing is quickly becoming the preferred method of funding for staffing agencies and small business owners for a reason.
There are no minimum volume requirements.
Startups can get payroll financing.
Your company's available working capital expands as it grows.
Advances of up to 95%
