Healthcare staffing payroll factoring is the conversion of accounts receivable into cash by selling outstanding invoices to a factor at a discount.
It's a practical option for staffing agencies that are unable to qualify for traditional bank financing in the early stages of business development. Moreover, healthcare staffing payroll funding is a great alternative financing option for agencies going through rapid growth. Specifically, this is a financial solution that gives agencies immediate cash to help manage operations more efficiently.
Some additional key concepts about factoring healthcare staffing payroll:
€ It's a way to fill the gap between when your agency staffs temporary employees and when your customers remit payment. What's more, factors can turn weeks or months into hours or days.
€ Healthcare staffing payroll funding is based primarily on your customer's credit history, not yours. As long as your agency is staffing in creditworthy medical facilities, then your business is a good candidate for healthcare staffing payroll factoring.
€ Financing payroll is a quick and easy way to sustain your "business as usual" relationship with your customers. Your agency can continue to provide temporary workers to your customers with a set-term payment--However, when you utilize payroll factoring, you no longer have to wait to be paid. Choosing to work with a payroll factoring firm permits your agency to easily obtain cash advances of 80% of the invoiced amount immediately.
€ It's also one of the oldest methods of providing working capital. Dating back 4,000 years, payroll factoring has long been used as a feasible and easy way for businesses to establish and maintain a positive cash flow in order to cover expenses while also experiencing growth.
€ It offers a chance to obtain cash without providing personal collateral or increasing interest expense. Furthermore, factoring payroll is not a loan, so it will not "muddy up" your agency's balance sheet. When you work with a payroll factor, you do not accrue interest or penalties.
€ Healthcare staffing payroll factoring provides an opportunity to build your company's credit. With adequate cash flow, you can use money from it to clean up your debts as well as pay overhead, salaries, taxes and invoices. This will improve your agency's credit history and make it easier to obtain credit from vendors and other financial institutions.
In summary, factoring your healthcare staffing receivables is a great long or short-term financing solution for small and mid-sized businesses. By working with a healthcare staffing payroll funding company, your cash flow problems can be solved. This will give your agency both the time and money to focus on critical success factors -- operations, sales and growth.
It's a practical option for staffing agencies that are unable to qualify for traditional bank financing in the early stages of business development. Moreover, healthcare staffing payroll funding is a great alternative financing option for agencies going through rapid growth. Specifically, this is a financial solution that gives agencies immediate cash to help manage operations more efficiently.
Some additional key concepts about factoring healthcare staffing payroll:
€ It's a way to fill the gap between when your agency staffs temporary employees and when your customers remit payment. What's more, factors can turn weeks or months into hours or days.
€ Healthcare staffing payroll funding is based primarily on your customer's credit history, not yours. As long as your agency is staffing in creditworthy medical facilities, then your business is a good candidate for healthcare staffing payroll factoring.
€ Financing payroll is a quick and easy way to sustain your "business as usual" relationship with your customers. Your agency can continue to provide temporary workers to your customers with a set-term payment--However, when you utilize payroll factoring, you no longer have to wait to be paid. Choosing to work with a payroll factoring firm permits your agency to easily obtain cash advances of 80% of the invoiced amount immediately.
€ It's also one of the oldest methods of providing working capital. Dating back 4,000 years, payroll factoring has long been used as a feasible and easy way for businesses to establish and maintain a positive cash flow in order to cover expenses while also experiencing growth.
€ It offers a chance to obtain cash without providing personal collateral or increasing interest expense. Furthermore, factoring payroll is not a loan, so it will not "muddy up" your agency's balance sheet. When you work with a payroll factor, you do not accrue interest or penalties.
€ Healthcare staffing payroll factoring provides an opportunity to build your company's credit. With adequate cash flow, you can use money from it to clean up your debts as well as pay overhead, salaries, taxes and invoices. This will improve your agency's credit history and make it easier to obtain credit from vendors and other financial institutions.
In summary, factoring your healthcare staffing receivables is a great long or short-term financing solution for small and mid-sized businesses. By working with a healthcare staffing payroll funding company, your cash flow problems can be solved. This will give your agency both the time and money to focus on critical success factors -- operations, sales and growth.
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