Payroll Funding
Staffing Agencies and Small Businesses
Clients who are late paying?
We'll Make It Easier for You to Get Paid!
A lack of reliable cash flow can make funding payroll challenging. Your customers pay in 30 days, but you must pay your employees sooner. You've come to the right place if your company requires payroll funding. For 17 years, the GO Funding team has provided flexible staffing payroll funding to small businesses. Call us at 763-390-6699 to find out how we can assist you!
What is Payroll Funding?
Rather than waiting for clients to pay you, companies specializing in payroll financing will buy your unpaid accounts receivable and advance your company capital. This is also referred to as payroll factoring. That's all there is to it!
How Does Payroll Funding Work?
Provide service to your customers while submitting invoices to the factoring company.
Your company receives a cash advance of up to 95% of the invoice amount.
Use the advance as you see fit to fund your staffing agency or business.
Your client makes a payment to the factor.
Once the invoice is paid, the remaining balance, less a small factoring fee, is returned to you.
Financing is available within 24 hours of invoice submission, ensuring that you always have enough money for payroll and other expenses. Unlike bank lending, payroll funding through a factoring company creates no debt. You'll never have to worry about repaying loans or paying high-interest rates.
Payroll Funding
Fast Funding for Payroll
Payroll funding is an alternative funding option in which a company sells its unpaid receivables to receive payment in hours rather than months. Many staffing firms rely on payroll funding to ensure that their employees are paid on time, every time.
Approval is simple, and credit that is less-than-perfect is acceptable.
If your company has been turned down for bank financing, you will almost certainly be approved for payroll funding. Why? Credit checks are performed on your customers, not on your business or personal credit history.
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%
