Recruitment factoring is a tailored type of invoice finance solution combining invoicing, funding, collections and payroll solution, specifically designed to meet the demands of maintaining cashflow and assisting in the growth of recruitment companies.
How does recruitment finance work?
All you need to do is…
1. Raise an invoice as usual
2. Send a copy of the invoice and supporting documentation to the finance company
3. The funder will then confidentially verify the application or invoice
4. You will be paid 100% of the invoice 24 hours
5. Once your customer pays, you receive the remaining amount minus some fees
How will recruitment finance benefit your business?
• You’ll get instant funding – up to 100% of your outstanding invoices within 24 hours, taking away the worry of late payments
• Guaranteed working capital means you’ll be able to spend your midweeks looking for and making the most of new business opportunities
• You can offer extended payment terms to certain customers if needed because you have guaranteed cash flow
• You can free up you time by letting the funder handle credit control and manage your sales ledger
• The funder both collects and allocate your clients’ payments
• You can add Bad Debt Protection to your finance package and have peace of mind that you’ll get paid should customers become insolvent or are unable to pay
• You will be allocated your very own individual point of contact who can supplement all aspects of your facility
• You will stay in control of your finances via live online account information which is always accessible