Common finance options for the Recruitment sector.
Recruitment Agency
Finance
If you run a recruitment agency or supply temps, you’ll be familiar with ‘negative cash flow’. Staff are paid weekly or monthly but when you regularly have to wait for clients to pay it can leave you vulnerable to a wage shortfall leaving your business constantly hungry for cash. The more you grow your business, the greater the problem.
Factoring provides you with the opportunity to outsource your ledger management so you can focus on your business, Invoice Discounting provides you with the cash you need whilst letting you retain management of your own credit control and debtor ledger.
As recruitment is a pressurised industry with an intense focus on cash flow, we will work with you to make the whole process as simple and quick as possible.
Dependent on your business’ needs, there are two types of factoring for this industry that you can choose from:
Recruitment Factoring – Up to 90% of your invoice is funded and this available for temporary and permanent placements
Payroll Factoring – up to 100% of your invoice will be funded (net of VAT) and wages are paid directly to staff with payslips issued. You receive your margin, your ledger is managed and automatic payments to HMRC (VAT, NI and Income Tax) are made.
Just a number of partners we’ve worked with
Bespoke Commercial Finance work with a number of banks and lenders with the knowledge and experience that will benefit you and your business. They will provide varied finance options, from invoice finance and asset finance to commercial mortgages and bank borrowing.
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Do you have any Recruitment financial requirements?
What our partners say
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If you have a financial requirement within the Recruitment sector then please do not hesitate to get into contact using the form below.
One of our experienced sales team members will be in touch as soon as they can.