Meeting payroll is the highest priority for staffing agency and temporary staffing firm owners. However, meeting payroll presents a constant and significant challenge to many staffing firms.

Employees need to be paid promptly and consistently for the work they perform.

The time lag for customer payments can range from 30 to 60 days, whereas your workers must be paid promptly on their regular schedule. This shortfall contributes stress to your cash flow especially when your company does not have a large cash cushion to support your customers payment terms. In some cases you may have to turn away lucrative business because there just isn’t sufficient cash available to hire additional staff.

Lack of working capital together with limited cash flow are without a doubt, major obstacles to any successful fast growing agency.

Spectra Financial’s Factoring Services are the ideal financial tool for staffing agencies. We allow your agency to cash in a large portion of your unpaid receivables within a day or two of invoicing, allowing your agency to meet all current financial obligations and to grow stronger and more prosperous.