As a temporary help business, employment agency or staffing firm, you must pay the people you have placed on a weekly basis without fail. The problem is that your customers probably will not pay you for 30 to 60 days after they have approved the time cards. For 15 years, The Invoice Bankers has bridged this cash gap by advancing funds to temporary help businesses. We generally do this each week upon completion of your placed people’s work and approval of their time cards.
We specialize in the funding of your billings to your credit-worthy customers. We do not provide back office services such as payroll reporting and benefits management. Assuming that you can provide the back office services, or are happy with your third-party providers of these services, we can provide the capital you need. Our rates for capital are likely to be lower than other firms that offer funding in addition to back office services.
Having capital available to your business through factoring by The Invoice Bankers, enables you to grow at a much quicker rate and should remove any hesitation to take on profitable business with slow-paying customers. In addition, there is tremendous peace of mind in knowing that you will be able to pay your people regardless of how long it takes for your customer to pay you.