Business insights and growth highlights

Logistics Business Loans: Get Stable Funding for Your Business

Nov 2, 2022 by Morris Reichman

Maximizing the utilization of available resources is what it’s all about when it comes to operating a business. One area that you want to ensure operates smoothly at all times is payroll processing. What happens if payroll is coming up, and you’re not sure how to fund it?

The obvious solution is to seek funding through Payro. Designed specifically to provide funding for payroll purposes, this approach can be just what you need. Here’s why this is the approach that will provide the stable funding needed and ensure that the typical logistic process for handling this important business function remains as efficient as ever.

Fully Licensed and Compliant Throughout the Nation

You take pride in the fact that your business is properly licensed, and complies with all the legal requirements and regulations that apply in the states where you operate. That includes local municipal requirements, as well as those that apply to your industry in general.

That’s what you get by choosing to do business with Payro.  Since that’s no mean feat, it indicates that Payro is serious about being in a position to provide payroll funding for businesses based anywhere in the country.

Small Business Owners Are Welcome

You already know that small business owners don’t always have access to the same types of financial resources that larger operations get to utilize. This is as true when it comes to payroll funding as it does to all other sorts of business funding. Fortunately, obtaining funding is not something you have to be concerned about when it comes to Payro. 

Payro is happy to provide payroll loans for small business operations of any type. All it takes is meeting the minimum requirements set by Payro, and you can bet that the application will be given serious consideration. You’ll find that those requirements are not as difficult to meet as you may think. 

Your small business can have as few as five employees, and still be considered for payroll funding. The amount of revenue that the business needs to generate is also modest in comparison to other funding sources. This is great, since it means the chances for your application to be approved are considerably higher.

Perfect for Payroll Funding
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Perfect for Payroll Funding

Payro is distinguished from other business funding services in that the sole focus is on funding payroll. In order for you to remain in compliance with the funding terms and conditions, the money obtained cannot be used for any other purpose. Since that’s the reason why you’re seeking funding in the first place, that isn’t an issue. In fact, it makes Payro a perfect fit.

Keep in mind that you can seek funding for a single payroll period, or you can opt for funding for multiple periods. It all boils down to the amount that you want to receive and the ability of the company to comply with the repayment terms. As long as you can honor the terms and conditions of the funding, all will be well. 

An Uncomplicated Application Process

Payro intentionally makes the application process as simple as possible. You begin the process by contacting Payro and submitting a basic application. The initial application will include responses to questions about your business, including the physical location and contact details. That information is provided to an underwriter, who is typically back in contact with you the same business day. 

The underwriter evaluates that basic information, and then gets in contact with you. As part of the process, this professional confirms that the basic application has been received. There will also be a request to provide supporting documentation that’s related to payroll loan application. You can depend on the underwriter to provide simple instructions for submitting the requested documents.

No Specialized Documentation Required
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No Specialized Documentation Required

One of the great things about Payro’s application process is that you won’t spend hours compiling all sorts of special accounting reports that must be submitted to the underwriter. Instead, the documents that you will need to provide are ones that you already have in your possession.

For example, the underwriter will ask for copies of the last six months of bank statements. Those don’t require any special preparation on your part. The underwriter can use these and any other requested documents to confirm the amount of income your company received during each of the past six months, and relate that collected revenue to the amount that you want to borrow for payroll purposes.

A Fast Answer About Your Application

Payro is known for providing fast responses to applications. Once you supply the underwriter with the documents requested, expect to receive a response within one to two business days.  If there are any additional questions, the underwriter will be in touch. 

Getting an answer quickly will make it easier for you to make plans about the upcoming payroll. In the best-case scenario, the application is approved, and you will be able to receive the funding shortly. That will mean you can go ahead and prepare everything to process the upcoming payroll, and ensure that everyone is paid on time. 

Quick Fund Transfers Too
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Quick Fund Transfers Too

You can depend on Payro to provide fast payroll funding once the application is approved. Upon being notified of the approval, and agreeing to the terms and conditions, you can request the transfer. Depending on your bank’s typical process for receiving and posting funds to accounts, you could see the money in your payroll account by the following business morning.

Clear and Concise Repayment Terms

Payro offers complete transparency about every aspect of the funding arrangement. You will know the interest rate that applies, and even how it’s applied to the balance. All fees are also accounted for at the time you agree to the offer for the funding. That means you know to the penny how much you will need to repay in order to settle the obligation. 

You will also know the date that the obligation must be settled. This is great, since there is no confusion about how much money you need to have in the account by the date that the balance is due. Paid by means of an automated withdrawal, you don’t have to be concerned about making a manual payment to Payro. See this as one more way that the process is kept simple and straightforward.

No Additional Charges For Early Repayment

There’s another quality about arranging payroll funding through Payro. You will not incur any type of additional fee or charge if you choose to retire the obligation before the due date. It’s nice to know that paying off the balance sooner rather than later will cost you nothing. 

Keep in mind that it’s fine to wait until the agreed-upon date to settle the obligation. If that’s your preference, then do so. As long as the balance is retired on time, there will be no penalties or other charges to increase the amount that you owe.

More Funding in the Future
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More Funding in the Future

A successful round of funding through Payro positions you to seek future payroll funding if the need arises. With a proven track record with the company, you will find the process for securing funding again to be even simpler than before. That can come in handy during times of the year when seasonal shifts mean less cash coming into the business, but the need to ensure employees are paid on time remains. 

See Payro Finance solutions as a wonderful way to always have a backup plan in place to take care of payroll. From projected shifts in revenue that happen certain times of the year to unexpected circumstances that put your ability to meet payroll into question, this solution will be there when you need it. As long as you’re in a position to repay the funding according to the terms and conditions, this is a resource you can call upon again and again. 

There’s no doubt that being unable to meet payroll has the potential to turn into a logistical nightmare. Sidestep that possibility by making sure you know where to turn when your cash-flow is short. Contact Payro, and learn more about how the funding process works. Once you try it this time, there will be no doubt of what to do if a similar situation arises in the future.

Morris Reichman

hello@payrofinance.com

Morris Reichman is the founder and CEO of Payro Finance. Former Vice President at Infinity Capital Funding an alternative finance company, Morris possesses a versatile background in the finance industry. Having spent 7+ years working across global macro operations and start up corporate finance Morris's expertise is in business accounting, risk management and investment analysis. Morris founded Payro Finance to support business owners and ensure their business continuity.