Stop Waiting On The Government To Pay Your Invoices
Working with the government is good business. You know the money is coming and it’s a steady stream of work. However, your company spends weeks or months waiting on a paycheck that you earned a while ago. For some, that income is necessary to keep the lights on, let alone keep employees paid. There is a way to get a majority of this money within a week.
A Merchant Cash Advance Loan: we did the math
Like a sheep in wolves clothing, the MCA product is a troubling and rapidly growing segment of the small business online lending industry today. A small business owner must be very careful and understand the true cost APR of this kind of capital. If they don’t, they run the risk of true financial Armageddon, and a wise small business owner should seek all other reputable options for capital before selecting to get a seemingly low cost, fast MCA for their small business enterprise.
Buyer Beware! How To Do Due Diligence On A Business
In the fast-paced and interconnected world of commerce and technology, the need for businesses to protect themselves has never been greater. Businesses seeking a provider for services must start a due diligence effort before signing any contractual agreements. If not, they put their own capital or employees at risk. Merriam-Webster defines the term due diligence as research and analysis of a company or organization done in preparation for a business transaction.
4 Ways to Spot a Bad Customer
It is said that one of the secrets to running a successful business is to have only great customers and to avoid the bad ones. This makes perfect sense, but is much easier said than done.
Collapse of MyPayrollHR: What should I do?
As was widely reported online and in most business-related publications, the abrupt closing of the payroll giant processor, MyPayrollHR has left small businesses and their employees scrambling in a state of financial panic. And with good reason. MyPayrollHR and its parent company, Value Wise Corporation closed last Thursday (September 5, 2019) without any warning. It shut down its website and stopped returning phone calls. The company stated that it had over “5,000 companies as clients” as of this past summer. To say this has caused trouble for their former clients would be an understatement.
Medical Staffing Factoring Can Solve Your Payroll Problems
As a staffing company, timing can affect your ability to make payroll. Medical staffing factoring could easily and quickly solve your funding problems.
The Importance Of Payroll
Businesses should value employees as their most important assets. According to Business News Daily, their payroll should always be a priority. (In this article you might spot some thoughts from our CMO Mark Mandula!) Consistently making their payroll is your first duty towards them. But that’s often difficult when your cash flow is low or irregular. These issues can especially affect medical staffing and similar companies. You have some options to ensure you can make payroll when your employees need it.
- Planning: This advice might be frustrating in hindsight. But, planning and putting money aside could ease future payroll woes.
- Liquidation: Selling your business’s assets can free up funds for payroll. Survey and see if you have surplus equipment, inventory, or real estate.
- Loans: Loans and line of credit can increase your cash on hand. Paperwork and an approval process can mean they can take a little time—and loans charge interest.
- Factoring: Selling your accounts receivable is also called factoring. It can get your business YOUR money exactly WHEN you need it.
Medical Staffing Factoring: An Issue Of Timing
As a staffing business, your employees are your assets. You’re not selling goods such as furniture, your clients need people to work, and you provide the people. That means your payrolls are often your most significant expense. You bill your clients for the funding to write paychecks, but timing is sometimes not in your favor. Employees expect to be paid for the time they worked, in a timely manner. But your clients might be on different billing cycles or delay paying you. Pass along these unpaid invoices to a factoring company. They can get you your funding so you can pay your people.
Factoring For All Staffing Companies
In addition to medical staffing factoring, United Capital Funding works with all kinds of businesses. Especially those who have many business-to-business (B2B) and government contracts. Specific to payroll factoring, we’ve assisted the following types of staffing companies:
- Clerical Staffing
- Consulting Staffing
- Government Staffing
- Industrial Staffing
- Information Technology Staffing
- Janitorial Staffing
- Light Industrial Staffing
- Technology Staffing
- Telecom Staffing
United Capital Funding: Your Trusted Business Partner
United Capital Funding has years of experience with medical staffing factoring. One of our staffing company customers recently said, “My account representative has been a true asset to our team.” And that is precisely how we want our clients to view us. We’re not just another vendor or supplier. Our service enables you to grow and maintain your business. Call us at 877.894.8232, fill out an application, or contact us online. Your funding is the lifeblood of your company—see how we can be your funding partner.
Article Posted On: March 25, 2019