Temporary and contract placement staffing agencies typically utilize a traditional line of credit, which is secured with accounts receivable and can be used for payroll, other operating expenses, expansion, investments, or any other business purposes.
Manage Cash Flow Effectively
The line of credit starts at $1 million and goes as high as $25 million.
A readily available line of credit offers flexibility and allows staffing agencies to manage cash flow effectively, ensuring they can meet payroll obligations and invest in growth opportunities without delay. As these agencies build their client base and increase their revenue, they can leverage this financial support to enhance their services and expand their operations.
Some of the advantages
- Competitive rates
- Advances on receivables can be as high as 85% on eligible ARs
- Simple, uncomplicated qualifying process
- Flexible terms. Financing can be structured to fit the business funding requirements
- Lockbox Account
Adapt Your Financing
A line of credit can allow temporary staffing agencies to adapt their financing as their needs evolve, ensuring they have the necessary resources to meet payroll, pursue new opportunities, or respond to market changes.
Steady Cash Flow
By utilizing these financial tools, agencies can maintain a steady cash flow while also positioning themselves for long-term success.
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