Are you considering Recruitment Invoice Finance or Factoring for your business? Lets look at the different options that are available, the costs involved and how to apply.
Running a recruitment agency can be a lucrative and rewarding business. However its not unusual to have to wait 30 or even 60 days to get invoices paid from customers, causing cash flow pressure.
Invoice Finance can be used by Recruitment agencies to relieve this cashflow pressure. By getting access upfront to cash tied up in unpaid customer invoices and timesheets.
It can also include payroll & back office support if required.
This can be for both permanent recruitment agencies and also temporary recruiters.
Invoice Finance For Recruitment Agencies
- Compare Factoring Companies
- Invoices paid within 24h
- Temp Recruitment Factoring
- Up to 100% Funding of Invoices
- No Obligation Quotes
- Factoring For Recruitment Agencies
There are a number of Invoice financing options specifically for recruitment agencies.
You can get funding, whether you are placing permanent candidates or temp staff with weekly payroll.
We can also cater for specific requirements for Funding Neutral Vendors/MSPs and also Finance for RPO Invoices.
Recruitment Factoring
A factoring facility can be used to release cash tied up in unpaid customer invoices and timesheets.
There are a number of factoring companies that have products specifically designed for recruitment agencies.
- Start up recruiters accepted
- Bad credit considered
- Up to 100% of invoice value funded
- With or without payroll
- Credit Control Support
Recruitment Invoice Discounting
An invoice discounting facility is similar to factoring in that it provides funding against unpaid invoices.
However it can be done on a confidential basis, without customers being made aware of the arrangement. Also you would still do you own credit control and invoicing.
- Confidential Discounting
- Retain Credit Control In House
- Recruitment Discounting
Discounting is not usually suitable for new start businesses and usually requires an annual turnover of £200k+.
As a specialist invoice discounting broker, let us take the stress out of finding and comparing providers by getting in touch now.
Temp Recruitment Factoring With Payroll and Back Office Support
We can provide quotes for either stand alone temp recruitment finance, in this case you keep using your existing payroll and back office function.
Alternatively you could have the same factoring company provide an all in one package with finance, payroll and back office administration support.
As an independent recruitment invoice finance broker, we can assess your options and arrange quotes.
FAQ: Recruitment Invoice Finance Frequently Asked Questions
Here are some common questions we get asked about recruitment finance.
Recruitment factoring is type of invoice finance facility, specifically tailored to recruitment agencies. It is a revolving credit facility that allows you to access up to 100% of unpaid customer invoices. This can be for both permanent and temporary recruiters.
Yes even if you a brand new start up business doing recruitment, you can still set up an invoice finance facility. This can be approved ready for you to issue your first invoice and draw down funding,
The cost will vary depending on many factors like the size, age and risk profile of your business. Typically fees are structured in two ways, either as a single fixed fee or as two separate fees consisting of a service fee and discount rate. The overall cost can range from under 1% of the total invoice values, up to 5%. However you would need to arrange a quote to get an accurate cost.
Free No Obligation Recruitment Invoice Finance Quote
As an independent recruitment invoice finance broker, we can assess your options and arrange quotes.
Call us on 0161 5469128 or fill in the form below.
One of our brokers will get in touch straight away.