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Introduction to facilities

Facilities offered to recruitment businesses

 

Whether you are a new start up or an existing recruitment business agreeing or changing an invoice finance facility is easier than you think and can sometimes get turned around in a matter of days.

If you are starting out, it is important that you have a facility in place as soon as possible, so you are ready when you first place your temps or contractors.  If you are an existing business choosing the right provider to transfer to is key!

There are a number of different options available to recruitment businesses:
 

Up to 100% factoring with full back office facilities including optional credit control
100% funding, payroll, timesheet management, invoicing, back office systems

These facilities pay your workers weekly, bi-weekly or monthly with the lender's money, pay you your profit weekly and then outstanding money is collected from your customer.

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Up to 90% factoring only facilities including optional credit control
90% funding (sometimes even 95%), receiving the remaining 10% when your client pays

Your business processes the payroll and the invoices, forwards or uploads a copy of the invoice to the lender and then receives up to 90% of the gross invoice value, normally the same day.

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Up to 90% confidential invoice discounting facilities
90% funding (sometimes even 95%), receiving the remaining 10% when your client pays

Similar to factoring but totally confidential where your customer is not aware of your funding facility.

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100 percentage permanent placement invoice financing
Up to 100% finance for permanent placement invoices
Receive your placement fee within days of raising the invoice

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Factoring options, features, services for Recruitment Agencies

Learn more about included or additional options

If you want to explore additional options as part of your funding arrangements, please let us know and we will make sure we introduce you to lenders that can support (some include these within their packages). The options could include:

• Bad Debt Protection: protecting you should your customer not pay or go into administration (different terms apply)

• Export Debt: if you are working with customers outside of the UK

• RPO Funding: if you are working through a vendor or managed service to supply staff that may be self bill or pay when paid

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