The percentage of the invoice value that the factoring company will advance to your business. Generally our payroll funding clients are advanced between 90%-95% upfront.
This can depend on customer creditworthiness, concentration and other risk factors.
This is the fee charged by the factoring company. It is deducted from the invoice when the payment is received.
Example:
If the invoice value is $100, advance is 90%, and the factoring fee is 1.5%, your business will receive $90 today and $8.5 when the bill is collected.
The key benefit of payroll funding is that a business owner will always have access to 90%-95% of billed hours before payroll is run.
This way, you can continue to grow your temporary staff without being held back by cash flow restrictions.
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