Take Your Staffing Business to the Next Level
Payroll Funding Vs. Bank Loans…Why Make the Switch?
If you are a staffing start-up, or one that needs that extra jump to the next level, you’re in the market for funding. The questions will be, are your ready to move to that level, and, if so, can you arrange a commitment with a good funding company, perhaps moving beyond your local bank?
The Bank Option
Let’s look at banking. It’s a great benefit for local firms, just starting out. You may know a community bank, or one that is larger, and can handle your business.
But the question is, do they know your business? It depends on your relationships of course. But banking and staffing agencies have always had a rather rocky relationship, with misunderstandings, among other things, about what constitutes “capital.”
As any company in growth mode, you have to do what’s right for you and your employees and your going concern. Don’t you want a financial resource that understands what you need, and the special needs of the staffing cycles?
Why Funding Over Banks?
If you’re ready to make an upgrade to your business, expanding regionally, or just ramping up your sales team, you might think about funding firms.
Funding companies – the good ones – will know your business. The funding vendor will be able to scale to your needs, so that you can make a seamless transition to the next level.
There are many other benefits as well. And some tiered funding services, such as Madison, will offer a variety of services.
For example, at Madison, we offer the full-service payroll funding option, which includes 100% payroll funding – plus our suite of back office services. Payroll processing, billing, credit and collections, and payroll tax filing, are all wrapped up in one simple integrated solution. It’s a great way to remove these overhead and payroll headaches and focus on what you do best.
But what if you want something simpler, such as, if you already have your back office in place? Well, we also offer
a funding-only option that offers access to the capital you need to improve your cash flow. Let us help you assess the best option for your business.
Looking for a better funding option?
The key here is to take advantage of the flexibility that a funding company can offer you. At Madison, we have no hidden costs, have roots in the staffing industry, and we have expert advice as you navigate what’s best for your company. Give us a call today and see how we can help you.