Payroll Factoring Solutions
For Staffing Companies
Invoice factoring is an essential service for many staffing companies. You’ll find yourself with limited cash flow as you wait for invoice payments to come through and deposits to clear in your accounts. That’s why many companies engage with an invoice or payroll factoring service to help keep their cash flow steady.
Invoice factoring, known as payroll funding in the staffing industry, helps your agency cover payroll while you wait for invoice payments to come through. So if you’re looking for relief with cash availability, payroll funding could be just what you need. At Lone Oak, our experienced team is here to help support your company’s financial needs and growth goals.
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Looking to learn more about how invoice factoring can help your staffing firm grow?
How Does Invoice Factoring Work?
Invoice or payroll factoring enables your team to focus on providing staffing services.
Here’s a quick breakdown of how the process works:
1
Once you receive an order from a customer, you provide your service and send an invoice to Lone Oak.
3
We’ll advance up to 97% of the face value of your invoice. This gives you immediate use of those funds instead of waiting for your customer to submit their payment.
2
After the customer submits payment, we’ll factor in taxes and fees.
4
Then, we’ll deposit the remaining payment amount into your account.
1
Once you receive an order from a customer, you provide your service and send an invoice to Lone Oak.
2
After the customer submits payment, we’ll factor in taxes and fees.
3
We’ll advance up to 97% of the face value of your invoice. This gives you immediate use of those funds instead of waiting for your customer to submit their payment.
4
Then, we’ll deposit the remaining payment amount into your account.
Who Can Use Invoice Factoring?
If you sell any goods or services requiring invoices that take 30-90 days for payment, you could benefit from payroll funding. Not only are you freeing up money to be used when you and your business need it, but you’re also freeing up your time. These services can help you focus on your agency’s most pressing needs.
Lone Oak can help you grow by letting you focus on your business instead of back-office work and record-keeping. To that end, we offer additional services to help your staffing agency thrive:
Grow Your Agency Faster with Lone Oak
Your business helps other companies perform at their best. We’re here to help your company do the same. Partnering with Lone Oak provides access to our payroll factoring services, as well as a variety of other solutions to help keep your business running smoothly.
Are you ready to say goodbye to cash flow issues due to invoice payment delays? Contact Lone Oak to discuss funding options for your company and how we can help you grow.
Invoice Factoring
We’re here to provide the cash flow you need to cover payroll today and plan for your company’s future growth.
Learn how you can receive secure funding, access to a team of payroll experts, extensive support for your processing needs, and more.
- Flexible funding
- Credit checks
- Payroll processing
- Tax calculations & processing
- Software with an all-in-one ATS & CRM
