As a security guard staffing agency, you provide an important service to clients as well as the general public, ensuring that safety concerns are met and security and protection are provided. Whether you offer site security and patrols, burglar alarm monitoring and response, or private protection, you and your staff need to be ready at all times personal protection London. But do you have the cash flow needed to keep running 24/7? Read on to learn why every security guard staffing agency should consider using factoring services as a resource to help stabilize and maintain their business.
Security guard staffing agencies are part of the rapidly growing temporary staffing industry due to the valuable time and money saving service they provide to businesses and companies by supplying qualified security professionals without the hassle of hiring full-time security staff. Unfortunately, while this sector is growing in leaps and bounds, many security guard staffing companies encounter cash flow gaps caused by the demands of meeting regular payroll expenses (often on a weekly basis) and receiving payments from their customers and clients. This is where security guard staffing agency factoring comes in.
Known in many industries as accounts receivable factoring or invoice factoring, security guard staffing agency factoring is designed to provide staffing agencies with flexible business finance options intended to eliminate the gaps between receiving payment from customers and paying your employees. Factoring is quick and easy! Once you have been approved by a factoring company, just send in your current unpaid invoices and/or accounts receivable and the company will advance you a certain percentage of the face amount in cash. Some companies may advance you up to 96% all at once, while others may advance you a smaller percentage then give you more once they have collected on the invoice or accounts receivable. Regardless of which way they do it, they will take on the credit risk of collecting on the invoice.
No matter what kind of security guard services you provide, no matter what kind of financial shape your company is in, most factoring companies can accommodate your factoring requests. Because factoring companies generally base funding on the financial strength of your customers, and not your personal FICO score and/or business credit score, even companies currently facing financial obstacles can use factoring services.