Food service
Payroll financing for food service industry

How a large food manufacturing company financed a significant expansion without impacting payroll, or reducing profits

Food manufacturer
Established in 2013
$50,000 partial payroll loan
200+ employees on payroll
shape
Why a loan?

The CEO of a thriving NJ-based food manufacturing company with over 200 employees enrolled in Payro just as a contingency back-up.

At the time, the company had no need for a loan option, but as a business-savvy owner, the CEO wanted access to funding at a fair rate should the company ever need it.

4 months later, the company had introduced many more products, and to meet the high demand, they had to invest in expensive new equipment. This left the purse string tight.

With our product line increasing and the customer base growing, we were excited about the success. But we needed an expansion to keep up with the overwhelming demand.
Why Payro?

Talk about turning the tables on equipment upgrades! Keeping over 200 employees’ payroll intact while taking on a big expansion would have been daunting without Payro – but a simple $50,000 funding covered the gap.

I’m glad we explored Payro ahead of time. It gave us the confidence to proceed with our expansion without stressing over our payroll expense.
Their loan

A one-time loan of $50,000 to cover the last part of their payroll was all they needed, and was quickly paid up in under 4 weeks.

In that window, their sales caught up and payments were collected — without any debt or sacrificing their profits.

We just needed $50,000 to fill the gap. We got it on the same day and paid everyone on time. Thankfully, we were able to finance a successful expansion that didn’t require a ridiculous loan, or leave us in debt.
What they said:
Every business owner needs a loan solution like Payro in their back-pocket since it’s free to enroll, and critical to keep as a backup plan. When we applied, I didn’t anticipate using it, but a good business is prepared for every kind of growth and cash hiccup. It kept us one step ahead.

Every business needs a safety net for when cash is low.

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