Funding and Cash Flow Factoring

Unlimited Payroll – If your temp agency is growing and needs readily available cash, you cannot afford to wait for up to ninety days to collect invoice payments.  TemPay can solve this problem by providing cash flow factoring and invoice factoring and other funding services so you can make payroll and continue to expand your business.  Our cash flow factoring program will benefit companies who choose to process their own payrolls and also those who use TemPay’s full range of payroll services.  With TemPay’s cash flow factoring, you can use your outstanding receivables for immediate funding.

Affordable Rates – Invoice factoring is just one of TemPay’s many valuable services.  Fees for other business solutions such as payroll funding and payroll processing are based on the amount of business your temp agency does and the mix of services your agency requires.  You decide the TemPay services your agency needs, accommodating your payroll needs and budget. With TemPay, you'll never see any hidden fees either. Everything is agreed upon beforehand so there are no surprises.

Full Service – Using TemPay’s full line of payroll business services offers definite benefits to your employment agency.  We will process paychecks, print invoices, pay and file your company’s payroll taxes, and also provide invoice factoring.  There are no hidden costs - we pay for all FedEx charges, postage, envelopes and invoices.  Call Brian Keuper at 800.470.4670 to discuss your employment agency needs and how we can tailor our services affordably for you.

Money Only – Successful businesses use cash flow factoring to gain immediate working capital that otherwise would be unavailable.  With our “money only” option, TemPay wires cash into your company’s account to cover expenses; then you can process your own paychecks, print your own invoices, pay and file your own taxes.

No Reserve Required - TemPay does not require a reserve account.

Factoring – Cash flow factoring is an efficient and cost-effective solution for your cash flow problems. It is not a loan. No money is borrowed. Factoring is financing based on receivables you already own. Our factoring program utilizes your accounts receivable as a means to advance monies and fund your agency's operations. You will have immediate access to funds without waiting 30 to 60 days for payment from your customers. Typically you either need funding immediately or have no collateral with which to obtain traditional bank loan funding. You should be able to capitalize on your growing business and sizable accounts receivable. Factoring provides this solution and the cash flow that your business needs on a daily basis.

Factoring goes by an expanse of terms: accounts receivable factoring, accounts receivable funding, invoice factoring, to name a few. While these terms tend to be used interchangeably, there are nuance differences:

• Accounts receivable factoring or invoice factoring uses accounts receivable (incoming payments for services rendered) as collateral only; these accounts are still serviced by the client agency.
• Accounts receivable funding occurs in the situation where TemPay assumes responsibility for receivables by purchasing and servicing the incoming receivables.

Without a doubt the most important benefit to using a factor or factoring company is maximizing use of your own funds. With TemPay you maximize your liquidity, easing daily operations and promoting agency growth.