Coronavirus Readiness Search: Search Login Contact Advance Partners Have questions about how we can help your business grow? Ready to get started? Connect today. First Name Last Name Phone Number* Email* State/Region* - Please Select - Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Canada/Canadian Province FL CA LA TX VA MO CO AR MD IN SC AZ NC GA MI OK WA IL RI PA CT NJ DE OR NV NH MA KY AL OH NY SD MN DC TN WI ID KS BC IA MS NE ON Puerto Rico AB PR NM Ontario MT Alberta ME UT Staffing Experience* - Please Select - Starting a staffing firm Have an existing firm Other Annual Billings* Please Select $0 in Annual Billings (Just starting up!) $0 - $1 million in Annual Billings $1 - $5 million in Annual Billings $5 - $10 million in Annual Billings $10 - $25 million in Annual Billings $25 - $50 million in Annual Billings $50 - $100 million in Annual Billings $100+ million in Annual Billings Company Name Job Title Comments Call us at 866-653-1810 23000 Millcreek Blvd Suite 200 Highland Hills, OH 44122 FREQUENTLY ASKED QUESTIONS HOW DOES FACTORING WORK? Invoice factoring is when a business sells its outstanding accounts receivable to a third party exchange for immediate liquid capital, less a fee. WHY WOULD A STAFFING COMPANY USE INVOICE FACTORING? Invoice factoring is designed specifically for businesses like staffing because of the unique payment structure. In staffing, you often have to wait 30-90 days for payment from your clients, while you pay your staff weekly. This can cause a cash flow nightmare, and be limiting to your growth. Invoice factoring gives you the cash necessary to grow without having to worry about making payroll. IS THERE A DIFFERENCE BETWEEN INVOICE FACTORING AND PAYROLL FUNDING? No difference. Payroll funding is the term we use when talking about invoice factoring specifically for the staffing industry. HOW MUCH DOES FACTORING COST? The cost of factoring is variable and depends on many factors – the amount of your receivables, financial stability of your business, the size of each invoice, etc. To get a true estimate of the cost for your individual business, contact an Advance rep today for a free consultation. WHAT DOES ‘FULL SERVICE’ MEAN WHEN IT COMES TO FACTORING? Full service is an add-on service where the same third party that does your invoice factoring will also do back office tasks like creating and processing invoices, processing payroll, and doing payroll taxes. HOW DO I START A STAFFING FIRM? If you have good experience and the will to succeed, starting a staffing firm is a great idea. For a minimal technological investment, you can run a staffing agency almost anywhere. We have several resources on how to start and maintain a staffing firm that you might be interested in: Startup Resources How to Start a Temporary Staffing Agency 9 Common Pitfalls Your Staffing Startup Should Avoid Advance Partners Advance Partners is a champion of next-level staffing firm growth, providing payroll funding, back office solutions and strategic services that fuel opportunity. Questions/Support? Call: 866-653-1810 Contact Us › SOLUTIONS Payroll Funding Back Office Strategic Services Getting Off the Ground Ready to Level Up Be an Industry Leader RESOURCES Tools & Templates Staffing Profitability Calculator Webinars & Events Blog Videos eBooks & Whitepapers COMPANY Our Story Meet Our Team Careers Advance Partners News Licenses © 2021, Advance Partners - All rights reserved. Privacy Policy | Licenses | Sitemap