Partner with a locally based payroll team
If you have ever started a business from scratch, you know how thin margins can get from time to time.
Having a tight budget is far from an indictment on any business owner. On the contrary, being able to fight through the difficulties of a business in its infancy is part of building a successful operation.
When times get tight, the last thing a business owner wants to do is miss a pay period for their employees. Whether you’re waiting on a large payment to come through, you have stocked a lot of inventory or it’s just a leaner month than usual, payroll funding could be the answer to your temporary budgetary problem.
Our company is based right here in the East Bay Area, and we have helped hundreds of small businesses solve the headaches related to payroll, human resources, transactions and many other common administrative issues. We offer payroll funding for all of our clients, and it has allowed many of our partners to retain top talent and still keep cash flow coming in.
Payroll funding, when compared to other solutions like a short-term loan, has many advantages beyond just giving you the ability to pay your people on time.
If you are unfamiliar with the way payroll funding works, it’s a relatively simple process.
If your company has already performed a service or sold an order, usually your clients have 30 or 60 days to pay the invoice. For well-established businesses with large bank accounts, this month or two delay in payment usually isn’t an issue. For a start-up or cash strapped business, though, it can be the difference in making payroll that week or not.
In this case, you would “sell” us those invoices, meaning payment would be due to us. In exchange, we would fund 90% of the money you are owed, allowing you to make payroll while waiting on your clients to pay the invoice.
When your client pays what is owed, we fund the remaining 10% to you and keep a small portion as part of the transaction.
This method is very advantageous because it keeps any debts off your balance sheet and we make this service available to all our partners, if they are doing business with reputable clients on the other side of the transaction.
Our payroll funding is available to be paid in 24 hours, so it is also an efficient and quick way to make your payroll if you get in a bind.
Many of our clients have mentioned the added peace of mind payroll funding gives them. Instead of worrying all week about how you will make payroll if the big check doesn’t arrive in the mail, you can focus on building your business and going after the next big client.
If you think payroll financing could help you, or if you would just like to learn more about the program in case of an emergency, give us a call today. We will be happy to evaluate the needs of your business!
