Fast Payroll Funding for Staffing Companies

Easy-to-use staffing factoring services offer instant funding to meet payroll and grow your agency.

Looking to grow your staffing agency?

Building and growing a staffing company can be hard, especially in times of economic uncertainty.  Are you facing common challenges like fluctuating demand, increased competition, and rising marketing costs?

These staffing industry challenges are made more difficult when your money is tied up in unpaid invoices, waiting for customers to pay. All the while, you need to make payroll and the required investments to see your business grow.

That’s where staffing firms turn to Transwest Capital. Our payroll funding solutions help you access same-day funding through the purchase of your outstanding invoices.  We’ll help you with the financial and operational support to get your agency to the next level.

  • “I had the best experience ever with Transwest Capital. Before I found them, I went through a couple and had a not so good experience. They were able to get me the funds I needed in record time, it was unbelievable. Everything was surprisingly easy with them, they are very professional and put the clients needs first. I will highly recommend Transwest Capital. For anyone looking for any kind of funding, without a doubt, they will get it done for you. Definitely 5 stars!!”

    RAMA Healthcare Services, Transwest Capital staffing client

  • “The process was easy! I was thoroughly informed on the process , no surprises. Hector was so professional in explaining the initial steps. Kristal is prompt and courteous with maintaining my account. They truly accommodate their customers. As a small business owner, this is the support you need. Thank you Transwest!”

    Lifeline Staffing, Transwest Capital staffing client

What is Staffing Factoring?

Staffing factoring, also known as payroll factoring, is a payroll financing solution where staffing agencies sell their outstanding invoices to a staffing factoring company at a slightly discounted rate. This funding option provides staffing agencies with immediate access to cash flow, which can be used to cover payroll, expand operations, or invest in new opportunities.

How Does Staffing Factoring Work?

Here’s how payroll funding works with Transwest Capital:

  1. You provide services to your clients and generate invoices.

  2. Instead of waiting weeks or months for your clients to pay, you sell us your invoices.

  3. We advance 85 - 90% of the invoice amount, usually within 24 hours.

  4. We take over the responsibility to collect payment from your client.

  5. Once the client pays the invoice in full, we forward the remaining balance (minus our factoring fees) back to you.

Try Our Staffing Factoring Calculator

Benefits of Factoring for Staffing Companies

  • Immediate, Steady Cash Flow: Same-day funding removes the wait for payment. This is the primary benefit of payroll funding.

  • Improved Cash Management: Outsourcing accounts receivable management saves time and resources.  It assures timely payments and preserves your client relationships.

  • Growth Catalyst: Available working capital provides flexibility to take on new staffing contracts and expand operations.

  • Enhanced Creditworthiness: Timely cash flow helps cover operating expenses and establish a positive payment history.

  • Reduced Risk of Bad Debt: Credit analysis and risk assessment services help you avoid potential costly losses.

  • Improved Efficiency: Offloading the administrative tasks of invoicing and collections allows you to concentrate on your core business and increase operational efficiency.

Why Staffing Clients Choose Transwest Capital

  • Same-Day Funding

    Get paid within hours of sending your invoice

  • Competitive Factoring Rates

    Low rates provide affordable financing

  • High Advance Rates

    Up to 90% of the invoice price is advanced the same day

  • Flexible Contracts

    Choose from month-to-month or longer-term contracts

  • No Hidden Fees

    No setup fees, monthly minimum fees, or invoice fees

  • Top-Rated Customer Service

    Personal, available, reliable service

4.9

Rating on Google Reviews

as of 11/14/2023

135

5-Star Google Ratings

as of 11/14/2023

Factoring for Staffing Companies in a Variety of Industries

  • Healthcare

  • Construction

  • Education

  • Engineering & IT

  • Clerical & Administrative

  • Managerial & Professional

Get Approved Today

Qualifying for staffing factoring is easy! With just a brief application, a few simple documents, and a quick credit review of your clients, you can get same-day approval.

Are cash flow constraints holding back your staffing company's growth? Factor with Transwest Capital to unlock immediate working capital and focus on taking your agency to the next level.

Latest Staffing Industry Insights

FAQs

What are the best factoring companies for staffing agencies?

The truth is this answer is personal to your agency and requires research. Good starting places include referrals from trusted industry contacts and company reviews. We do not recommend “Best of” websites as these sites often list companies from which the website receives compensation. Evaluate each invoice factoring company for reputation, staffing industry expertise, service model, rates and fees, speed of funding, pricing transparency, and contract terms.

How do you get approved for payroll funding?

It’s easy! Our payroll funding approval process is simple and largely based on your clients’ creditworthiness. We require a brief application, A/R Aging Report, and a few standard supporting documents to verify identity. Most applicants spend no more than 5-10 minutes applying with Transwest Capital, and approval is typically provided within hours.

How quickly can my agency start receiving payroll funding?

Fast! Once your account is approved and setup is finalized, your first funding is typically completed within 72 hours, if not less. After your first funding is completed, subsequent fundings are typically completed within 24 hours of invoice verification, if not the same day.