If you are a PEO/ASO/HRO client, access to extra cash to help your business survive and thrive.
Payroll Funding has teamed up with over 100 PEOs/ASOs/HROs to offer an innovative product called Payroll Funding. This value-added service provides short-term cash that enables your business to pay payroll when needed so you can use cash that would otherwise pay payroll to help grow your business.
Having unpredictable, volatile, and uncertain cash flows costs time and money – period. Many times, a company just needs extra cash to grow and invest in the business and does not have enough cash on hand because it is waiting on receivables or has an unforeseen event that requires cash.
Payroll Funding solves this short-term cash-flow problem. When you need cash, you call Payroll Funding Company, LLC (PFC) and we mutually arrange the date and amount required for payroll.
Payroll Funding is not permanent capital. Its purpose is to level out cash flow and free up funds, so payroll can still be paid while collections are slow, and you can continue to invest in your business uninterrupted.
How does it work?
When both parties agree, a mutual commitment for funding is created.. That equates to about $0.55 for every $1,000 of payroll funded. A $50,000 payroll costs $27.50. There is 1-week Grace Period which incurs a fee. Extensions to the Grace Period are made based on mutual consent.
To become approved for funding, there is:
- No written application
- No personal guarantee
- No lien
- No collateral
- No security
- No up-front costs
From start to funding can take less than 24 hours.
For more information, contact your PEO/ASO/HRO today or reach out directly to Payroll Funding by contacting Steve Ott at email@example.com, 609-516-5100 or contact us today via our online form.