CFG staffing factoring along with a network of affiliates that cover all of the United States, Canada and fifteen other countries offer the latest state-of-the-art funding options to temporary placement staffing agencies from invoice factoring, receivables line of credit and payroll funding, these are finance solutions that are structured to fit the special financial needs of contract-temporary placement staffing companies from the well-seasoned agency to agencies that are struggling or are in the red.
And for staffing agencies that are presently with an asset based lending/bank (ABL line) and would like to get away from the strict requirements but maintain competitive pricing, we have available the Ledgered Line of Credit, a very competitive and flexible ABL type facility secured with your accounts receivables. And unlike a traditional bank line, there are no strict audit requirements and almost no covenants with respect to ratios, concentration, etc. The price structure is similar to an ABL line, typically prime + %, plus a service fee . The service fee is charged monthly on the gross amount of invoices, interest is charged on the amount of funds actually drawn, thus controlling the cost of funding.
Our objective is to be a long-term financial partner to staffing companies meeting all of their needs with a funding range that benefits the small to large agencies:
- Funding from $10,000 to $35 million a month
- High-volume factoring $5 million minimum with 90-Day rates as low as .75%
- Startups, midsized, large staffing companies
- A funding region that covers seventeen countries
- Payroll funding and back office services
- Receivables funded with advances on average to 90
- Facilities are structured to fit the clients' funding needs
- Very competitive rates (we do our best to beat the competition every time)
- Funding availability as you growAnd other advantages