Curis Staffing

Choosing the Proper Funding company for your business

Staffing factoring, also known as invoice factoring or invoice financing, payroll funding allows you to sell your accounts receivable for cash to meet payroll for 1099 employees, independent contractors, and other staff. Payroll financing is designed to help your staffing company make payroll before your customers pay you.
 Your business cycle has twists and turns, and your cash flow needs can increase or decrease from month to month. Like it or not, staffing is a negative cash cycle business. Have you ever found yourself in a position where a big business opportunity strikes, but you cannot afford payroll for the temporary workers it would take to complete it? A staffing firm looking to grow should never have to be in a position to turn away big projects when they arise, because that means turning away revenue. 
Finding and placing high-quality temporary workers who want to work is one of your business’s greatest challenges. But with, major talent shortages are occurring and expected in many industries. Temporary Staffing as a whole is growing, and there is a big pipeline for staffing firms to help fill, especially in healthcare.
Because of the difficulty involved with finding and keeping temporary workers, any barrier could be costing you big. If your current funding source does not give you the flexibility to hire all the help you need, that is money down the drain. It is also important not to lose the good ones you have by not being able to pay them on time when you are waiting for outstanding invoices. It is difficult to recover from once you are known for not paying your employees. Word-of-mouth advertising from staff to staff is free, however expensive, depending on your reputation.
So, the further you grow, the more money you will need. A Funding Company ensures business owners like you can access the funds and working capital you need to pay your temporary employees on time, without strict limits and restrictions.
Funding companies are created for the following: to improve your cash flow, and get unlimited access to funds at competitive rates. Also, to advance rates of 80 to 90% upfront, this should remain hassle free process. 
Your bank credit line will cover it, and you will receive 80-90% of your accounts receivable or invoice funding within days of submission. What I have learned through trial and error is some fly-by-night funders do not have the resources to help you with the extra back-office support it would take to accomplish it. They tend not to have the reputation of a banking service. Not to mention, they will take a higher percentage of your overall revenue. The Funding companies will sell you the security of providing back-off support, onboarding, and workers’ compensation insurance. All of this sounds great; however, you are placing your company’s future in someone else hands. One wrong or missed payroll run can and has collapsed many businesses. As healthcare staffing becomes a recession-proof lucrative business. You will see more Funding companies developed. It is tempting to believe that funding fraud is something that happens to other businesses, not your own. By putting a few safeguards in place, you will be able to make your company a less appealing target. It is important to research the company record. Call the company not as a new customer but as an existing company, and keep a record of your hold time. They will work hard to gain your business however not available to assist you with solutions to your problems. Some Funding companies offering back-office support are known to outsource the back-office tasks to a third party. This can present a new series of issues; all you need is the funding. Funding companies also borrow money from banks to fiancé their company, so why not cut out the go-between? You can receive a credit line through A funding Company and maintain control of your business. As you grow, so does your credit line. 
Click the link below to become connected to Coaches that can lead you to become a millionaire within 12 to 24 months.