Most small businesses face a cash flow problem at one time or another, and unlike most obligations, payroll must be met on time and cannot be delayed, thus making payroll stressful and a distraction. Finding the right payroll funding company to finance payroll helps small businesses every day.
Payro Finance is a solution for businesses – Funding to cover payroll on time, even when cash flow is thin. Payro Finance secures funds instantly, so they are available for weekly, biweekly or monthly payroll.
Making payroll on-time is one of the most important responsibilities of a small business owner. If you can’t make payroll on-time, you risk losing employees, stifling growth and potentially going out of business.
Having enough cash on hand to make payroll is a problem that many businesses struggle with, even if they have stable customers who pay their bills on-time.
Nearly 43% of small business owners deal with cash flow problems putting them at risk of not paying their employees on payday.
Unfortunately, when it comes to accounts receivables, getting invoices paid “on-time” can mean 30-90 days after an invoice is submitted, leaving you the business owner behind schedule and low on cash reserves.
Although your business will eventually collect on those invoices, you don’t have time to wait because you need to pay your employees now. While there are traditional funding options for a small businesses (i.e. bank loans and other lending products), many companies do not have the assets to borrow against, the credit score, or the operating history to get access to a line of credit. To qualify for an traditional loan can take weeks to be approved. That’s where Payro Finance’s payroll funding product becomes your best option.
Don’t risk it. Make payroll on-time every time. Stop cash flow problems from eating into your time and profit.
Now you can get fast approval on a line of credit to cover your payroll funding needs. This Payroll Funding solution is not like other traditional loans or alternative lending options.
Collateral is not required as it is often required when taking a line of credit from a bank. You don’t need to sell your accounts receivable as you do when invoice factoring. Approval for a Payro Finance Payroll Protection loan is based solely on your revenue and an analysis of your businesses cash flow.
Payroll Funding is designed to help companies make payroll while they are waiting on unpaid invoices and before they collect outstanding payments from their customers.
Payro Finance’s Payroll Funding provides same day funding when you find your business in a cash crunch and need to bridge the payroll gap. Without the worry of not having the funds to cover payroll and with cash in hand you can achieve steady and sustainable growth without worrying about making payroll on-time.
Every business should have access to a line of credit. It is the most affordable and convenient option. But not every company has the credit history required to qualify for a line of credit. If you find yourself occasionally in a cash flow crunch and need a temporary infusion of funds, payroll financing is your best option. But if you need the money a long period of time or find yourself constantly running thin on cash flow due to unpaid invoices, invoice financing is probably what you need.