When building your staffing startup, cash truly is king. You need money to secure office space and equipment, cover marketing and advertising, pay for insurance and licensing, and more. Most of all, you have to cover payroll each week to keep your employees. Because these expenses add up fast, you need a reliable pool of funding to cover them. However, odds are your startup will not begin seeing revenue for at least a few months. Because your invoices may not be due for almost two months after services are provided, your revenue stream probably will be unreliable. As a result, you must find a way to access the cash you need to cover payroll and other expenses on time.
Discover why cash matters to your staffing startup and how Madison Resources can help.
You Need to Cover Payroll
Your staffing startup must be able to cover payroll for several months as it gets off the ground. Although regular revenue will not begin coming in for an extended period, your workers need to be paid on time. Otherwise, they may quit. This can damage your staffing startup’s reputation both online and in the industry. You also may have liability issues if you do not fulfill your obligations. This decreases your odds of long-term staffing success. Fortunately, we can provide the funding you need when you need it.
You Must Find a Funding Partner
If your staffing startup needs help covering payroll, you need a trusted funding partner to turn to. Since you pay your employees weekly, but your customers probably pay you within 30-50 days, you need a way to cover the gaps. Your best option is to partner with us. For over 25 years, we have been providing funding and other services to staffing companies to improve cash flow.
Choose from Two Funding Options
When you partner with us, we offer two funding options to fit your staffing startup’s needs. One option is full-service funding. This includes 100% funding plus a suite of back-office services. Payroll processing, payroll tax filing, billing, credit, and collections are wrapped into one solution. The other option is funding only. If you already have back-office support, you still can gain access to the capital needed to improve your cash flow. Either way, you can get funding with tier-based rates that provide concessions as your billing grows.
Hear About Melinda’s Experience
Melinda’s team is able to focus on their business not in it as much!
My staff was becoming overwhelmed keeping up with the state and local tax climate as we expanded into new markets. Not only did Madison help us grow and expand by providing the funding we needed, but their team of professionals took the payroll tax compliance off of our desks and into the hands of their tax experts. On top of that, the headache of ACA tracking and mandatory sick pay accruals are taken care of too. Now we can focus on what we’re good at – staffing!
Make Us Your Funding Partner
Choose Madison Resources as your staffing startup’s funding partner. Our industry expertise lets you focus on sales and service to increase profitability faster. Contact us today.