Payroll funding allows financial flexibility, which translates to security for your employees, clients, and business. Payroll funding allows business owners to access financing they need to keep their business operating during periods of cash flow uncertainty or slowdown with working capital and 15-60 day payment terms upon approved credit. Payroll outsourcing is a complimentary service that is also available to help your business grow. When a business uses payroll outsourcing, a separate company will manage all of the financing, administration, and processing of payroll including calculating and applying all relevant payroll deductions. By outsourcing payroll and accessing payroll funding, you can be confident that your employees are all being paid in full, on time, every time. Payroll funding and payroll outsourcing can be used in tandem to relieve the stress of payroll obligations. Here’s how payroll funding and payroll outsourcing can help your business operations run smoothly.
Benefits Of Payroll Funding
- Provides Consistent Cash Flow. Sometimes customers are slow to pay or there are times where work isn’t as steady. When you’re offering a net-30 or net-60 day payment term for your clients, there could be a period of time where you need to pay your workers but money for the project isn’t yet coming in. With payroll funding, you can be sure that all of your employees are being paid on time even if you still have outstanding receivables.
- Allows Growth. Payroll funding allows you to meet your payroll obligations while keeping your working capital free to finance projects and substantial growth opportunities that arise. This freedom means you can grow your business and increase your cash flow, putting you in a better position over time.
- Pay Your Bills On Time. With payroll funding, when customers take the longest allotted time to pay you’ll still have consistent cash flow and you can make regular bill payments. Have your expenses covered and your employees paid on time consistently.
- Allows Flexibility. When you use payroll funding, you don’t have to choose between paying staff and taking on new clients for fear of insufficient cash flow for supplies needed. Having this flexibility gives clients the reassurance that you have the financial capacity to take them on as new clients.
- Doesn’t Add Debt To Your Balance Sheets. Payment funding does not create debt on your balance sheet, offering your business the time to settle your payroll deficit without having to take out high interest loans from a bank. This form of debt-free financing with a typical term of net 15-60 days gives you the time to reconcile deficits.
- Gives Financial Security. With payroll funding, you know that you’ll always be able to pay your employees and bills, which gives you more freedom to grow your business.
Matrix offers a full service solution to relieve your small or medium business of the time consuming and costly burden of managing payroll with our Back Office Support services.
Benefits Of Payroll Outsourcing
Saves Time. Outsourcing payroll can help you to streamline your invoicing and collections process without having to redirect your own staffing resources away from the streams that generate cash flow or help your business grow. Outsourcing your payroll to a Back Office Support service provider allows you to focus your energy and efforts on doing what you do best, and letting the payroll experts ensure that your payroll processing and remittance are done properly and on time.
Get Payroll Funding Through Matrix Labour Leasing in Calgary
Payroll funding can be a great resource for your company. If you are a small or medium sized business who needs to balance employee payroll with incoming payments, call the experts at Matrix Labour Leasing staffing agency in Calgary at 1-866-666-9520 or fill out the contact form with any questions or for more information. Matrix is a Recruiting and Staffing Agency that offers full service solutions to businesses to build, grow, and manage an effective, skilled labour force. Matrix knows that small businesses can struggle with meeting payroll obligations particularly during periods of decreased revenues or cash flow uncertainty and Matrix is committed to making sure your business is complying with your jurisdictions employment laws regarding salary, while also making all necessary bill payments.
Q: What are the costs of payroll funding?
A: The costs are determined by the amount of funds that you apply for and the strength of your current credit score. With that in mind, our payroll funding is priced extremely competitively. Contact us today to learn more!
Q: What are the payment terms?
A: Our flexible repayment policy ranges from 15 to 60 day payment terms.
Q: What are the qualifications to apply for payroll funding?
A: Matrix Labour Leasing in Calgary requires approved credit and proof of good invoicing practices.