Perception and Perspective....I will say it again. When a company accelerates its cash flow by utilizing a factoring program, the outcome in the staffing industry is always positive....as long as your contract is profitable, payroll taxes are paid current and your client remains happy. SO many times we hear "What are my customer's going to think about me if we factor our invoices?" and "How can I afford it?"... Well, how are you going to feel when you are able to place 25 new contractors on a job for a Fortune 500 client because factoring empowers you to do so?
Let's keep it in perspective and look at the promise of what factoring does for you.
If you are involved in Clerical Staffing, Medical Staffing, IT Staffing or other areas of Temporary Staffing, a solid working capital base and positive cash flow position are critical elements to achieving success. Whether you invoice your client by the hour or by the job, Catamount Funding will be able to accelerate the payment of that invoice so you are able to make payroll and never miss a beat.
Whenever you invoice a client for temporary workers on assignment, you can rest assured that invoice will more than likely have to offer 30 day payment terms. Therefore, you may experience periods where you have 5-6 weeks of payroll tied up in accounts receivable. Keep in mind as well the IRS does not like to wait for its money. Making your 941 payments on time is crucial.
With this in mind, suppose for a minute that you have exhausted your capital account and are offered a premium opportunity to place temps for a new client you have been after for a few years. Before passing on that opportunity you might want to consider whether factoring will allow you to handle the new business. With a factoring credit facility at Catamount Funding you will never find yourself in a predicament of not knowing how you will be able to meet payroll. When you are a client of ours you may be eligible for up-front funding for new accounts enabling you to service a new account before the first invoice cycle.
Give Catamount Funding a call. You will be glad you did because we want to help! Let's go...877-647-8577.
Catamount has always been there for us and has been very instrumental in helping us succeed.
Without Catamount we would not be where we are today...period. They have been a tremendous help and are very supportive!
When we needed help Catamount stood up to the plate for us. Their service is outstanding...great people to work with!