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Accounts receivable financing companies for staffing typically have specific requirements. Here are some common requirements:
Creditworthiness of clients: Invoice factoring companies will typically assess the creditworthiness of the staffing agency's clients before agreeing to purchase their invoices. This is because NCC is essentially taking on the risk of non-payment by the client. If the client has a history of late payments or non-payment, the invoice factoring company may be less likely to purchase the invoices.
Age of receivables: Factoring companies will typically only purchase invoices that are less than 90 days old. This is because the older the invoice, the less likely it is that the client will pay.
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Type of staffing services: Some invoice factoring companies may specialize in specific types of temporary staffing services, such as healthcare or construction staffing. Temp agencies that provide these types of services may have an easier time finding a company that factors and also that is familiar with their industry. NCC can provide factoring services for all staffing agency industries.
Contract terms: Factoring companies will typically require staffing agencies to sign a contract that outlines the terms of the factoring agreement. This contract may include details such as the factoring fee, the length of the agreement, and any penalties for early termination.
Our flat fee of 2% to 3% with full advance (No Reserve). We take the credit risk, Custom rates available for monthly commitment of $150,000.
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We proudly approve credit insurable freight brokers and Shippers in Mexico.
Get up to 30% fuel credit on active loads. Keep trucks on the move without cash flow hiccups.
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Invoice factoring can be a helpful financing solution for staffing firms of all sizes and types. However, certain temporary staffing businesses may benefit more from factoring than others. Here are a few examples:
Overall, any staffing company that experiences cash flow gaps or struggles to cover their expenses due to slow-paying clients may benefit from NCC' factoring services. Factoring can provide quick access to cash, improve cash flow, and help these companies stay competitive in their industries.
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