Even more reasons to offer your clients Payroll Funding:
PEO/ASO/HRO clients are quickly qualified for Payroll Funding because within our process there is:
- No written application
- No collateral or lien
- No Security required
- No personal guarantee
- No even a Credit Check
A simple phone interview is all that is required to mutually agree to on funding. Once agreed, both parties enter into an agreement to make funding available. Those approved enter into an agreement whereby PFC becomes available for funding. A PEOs/ASOs/HROs client has 5- days to pay back the funding amount to PFC plus 4% interest (APR), which equates to $0.55 per $1,000 funded. There is 1-week Grace Period which incurs a fee. Extensions to the Grace Period are made based on mutual consent.
How do PEOs/ASOs/HROs offer Payroll Funding?
- PEOs/ASOs/HROs identify which clients have had issues making payroll on time or have an immediate funding need for any reason and introduces them to introduce PFC.
- PFC interviews each client to determine if they will be approved for Payroll Funding and communicates to PEOs/ASOs/HROs as to the status of funding.
- If for payroll PFC typically wires funding directly to PEO/ASO/HRO on the clients behalf or can send it directly to the client.