As a broker, offer your clients quick access to Payroll Funding – Whenever they need it
Your clients turn to you for guidance in selecting the best PEO/ASO/HRO for them. How are those providers evaluated? You and your clients look for excellent service, timely payroll processing, and easy communication. What if you offered your clients something none of the others did?
We offer Payroll Funding to help broker client’s business close the occasional gaps between receivables and paydays. By offering our Payroll Funding service, you provide a richer service offering and a deeper connection with your clients. With Payroll Funding on board, your clients are given a way to survive and thrive when they need it the most.
With Payroll Funding, brokers are paid a fee, are never required to take on additional administrative duties, and are never asked to shoulder any risk, even if a client does not pay.
Why do we think this is a compelling offer for brokers to make to current and prospective clients?
Because payroll costs are a hard number that must be made on a hard date.
Your clients’ receivables can be variable, unpredictable, and collected unevenly throughout a month. These peaks and valleys force management to spend one-third of their time managing and chasing cash and not focusing on the business, which often leads to providing discounts on receivables to get customers to pay sooner.
Having unpredictable, volatile, and uncertain cash flows costs time and money – period. What happens when your client is obligated to send you the funds to cover payroll today, but has a shortfall? What are their options?
At Payroll Funding, we provide a unique service for clients. It is a practical solution when other financing options are not easily obtained, especially when your client needs cash to cover only a few days. This is what Payroll Funding does. It pays your clients’ payroll whenever they need it. They simply repay it when their receivables come in. The cost? $0.55 cents per $1,000. That means, for $50,000 for five days, the cost is $27.50.
With our innovative service, Payroll Funding can solve one of the biggest problems their prospects and clients face – cash flow.
Payroll Funding does not require a written application, which leaves client assets and personal credit scores untouched and fully available for longer-term secured financing.
Because Payroll Funding is the short-term investment arm of a family trust and invests its own funds in your business, application is by way of a phone interview to learn about the company and its business prospects and to confirm that this funding solution fits its needs. Determination of funding is immediate. Depending on cash availability, the entire process from request to qualification to funding by wire can be accomplished in in 24-hours.