Staff factoring is a sale of outstanding payroll invoices to a third-party factoring company. It is a type of business financing to maximize cash flow and effectively fund daily operations. Staffing factoring allows staffing businesses to access the capital needed to recruit, hire, onboard, and run payroll.
A well-established construction material supplier was incurring significant losses. Their banker couldn’t renew their line of credit, so they referred them to Catalyst.
“It was good for all parties; and the turnaround time was very fast…The company still banks with us, and the implementation of a quick solution with Catalyst made what could have been a complicated problem, be a smooth solution.”
– Executive Vice President & Bank Referral Partner