Permanent placement recruiters can utilize invoice factoring also known as payroll funding, subject to certain conditions.
Even though funding permanent placement invoices is more challenging due to the nature of the agreement, which may offer a 90-day money-back guarantee for the subject employee, we have, through our affiliate, been able to fund permanent placement recruiting staffing agencies.
Conditions:
The permanent placement staffing agency should also be placing temporary workers and pursuing a payroll funding facility for these temporary employees. The advance rate for permanent receivables will be lower than that of the facility for temporary employees.
We should be able to fund permanent placement invoices if they constitute a small portion of the total receivables from a temporary placement payroll facility or line of credit, provided there are no trial periods or refunds for the employees in question.
Other funding option:
This is a revenue-based business loan, which is based on the business's monthly revenues. You can access the necessary funding to sustain your operation until you secure a more permanent credit facility.
Required Items (revenue-based loan)
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3-4-month PDF bank statements
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Most Recent Tax Return (if loan amount requested is over $250,000)
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Your FICO score:
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Do you rent or own your home?
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Once we receive this information, we will send you the application link so we can finalize the process.
To apply for a revenue-based loan, please click here.
For payroll funding or factoring, click the Get Started button below.
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