The staffing industry has experienced tremendous growth over the past several years. According to the American Staffing Association, in an average week, staffing companies are responsible for more than 3 million employees.
What’s the most important factor for these 3-million employees each week? A paycheck! And, it’s the staffing company that’s responsible for providing that weekly paycheck.
Working capital is certainly top of mind for anyone who runs a staffing company. And there are many scenarios, including payroll, in which having enough working capital proves crucial:
- Weekly payroll. Your clients pay monthly, but you must provide those workers with a weekly paycheck. If you can’t keep up with payroll, you lose employees and in turn, clients.
- Recruit more staff. The staffing industry is growing, but in order to hire more staff to fill more positions, you must have the cash to bring those new employees on board.
- Acquiring competitors. One way to grow your staffing company is to take advantage of the opportunity to purchase a competitor. This requires speed and cash on hand.
- Move Into a new Market. As you grow, you may need to open new offices in new cities or states. A steady flow of working capital can help you cover the start-up costs associated with new locations.
As a nationwide, direct lender, Porter Capital has the experience to help you meet all of these challenges head on–and win!
Porter offers staffing-agency funding on your invoices within 24 hours. So, no matter what challenges your business faces, waiting for payment will not be one!
Real-time online access to your account and a dedicated account manager will keep you up-to-date on the details of your account.
Contact Porter Capital today and learn how hiring Porter Capital can be an important asset!
Stability – Porter Capital has been in business for over 20 years. Our experienced staff will provide the expertise your business needs to thrive and move forward.
Whether you are a start-up staffing company, a mature one, or just experiencing rapid growth, Porter Capital can take care of your working-capital and cash-flow needs so you can concentrate on running your business.
Call us today or fill out the form below to see how easy it is to secure staffing-agency funding with Porter Capital.