How Factoring helps Staffing Companies?
When supplying large companies with staffing solutions, there can be a wait upwards of 90 days to receive payment. The problem with this situation is that employees must be paid regularly. Oftentimes, many small to medium sized staffing agencies go into debt or use personal funds to maintain the minimum level of cash flow required to remain viable in the industry. Baron Finance factoring alleviates the overwhelming pressures and constraints of operating with restricted cash flows.
Baron Finance offers factoring facilities specifically curtailed to the needs of a staffing agency. Upon account activation, staffing companies can submit weekly invoices to Baron in exchange for immediate funds – just in time for payroll.
Baron Finance’s account managers are all professionally trained in customer relationship management and standard practice collection methods. As an extension of our client’s business, our representative will build meaningful relationships with your customers while maintaining outstanding receivable turnover.
Clients using our Staffing Factoring facilities can benefit from Baron Finance’s due diligence processing department, along with having access to our resources and expertise. Before supplying labor to new businesses, Baron Finance can check credit references in addition to the DNBi and Equifax reports, thereby allowing staffing agency clients to rest assured that their customers are, indeed, reputable.