Rather than waiting for your customer to pay on terms, such as 30 or 60 days, you can have your outstanding invoice amount advanced to you within 24 hours. This allows you the cash flow needed to fund payroll, as well as other business expenses, without having to wait for your customers to pay.
What is Payroll Funding?
Your business needs constant cash-flow to be able to consistently fund payroll on-time. Even if your customers pay within 30 days, your employees will most likely still need to be paid faster. Not to mention if you have customers paying terms of 45, 60, or even 90+ days, your cash flow can get really tied up, which makes paying your employees a serious problem.
If your business has trouble making payroll due to factors like slow paying customers, rapid growth periods, and seasonal patterns, ClearCoast Capital’s Payroll Funding will help solve these challenges. ClearCoast’s team has experience in providing flexible Payroll Funding solutions to businesses in a wide-range of industries. We will get to know you and understand your business, so we can develop a custom plan to solve your payroll capital needs.
How does Payroll Funding work?
Why wait on your customers to pay, when ClearCoast can immediately advance up to 95% of your unpaid invoice amount. Once you submit an invoice, you receive capital within just 24 hours. Your customer then pays the invoice on your agreed upon terms and we keep a small service fee, then remaining balance goes to you. This process allows you to always have the working capital you need on hand to make payroll and get started on new jobs. With Payroll Funding, you don’t have to worry about paying back loans or high interest rates. The process creates zero debt for your company, since your customer is the one who owes on the invoice. We can quickly help you transition from ‘chaos’ to ‘peace of mind’ management.
Satisfied employees are the cornerstone of every successful business. Keeping your team paid on-time helps insure that your employees are happy. Our Payroll Funding solution can be used to pay wages, as well as worker’s compensation, benefits, and other payroll requirements. In addition to funding payroll, your business can also use the extra working capital to take on new jobs, grow your company faster, bid on larger projects, and cover a full range of other day-to-day business expenses.
Why does my business need Payroll Funding?
You can eliminate the stress and worry of making payroll that’s associated with selling on terms and slow paying customers.
Payroll Funding with ClearCoast gives you immediate access to the capital that is tied up in outstanding invoices.Your customers still get to pay on their terms and you can focus on growing your business, rather than payroll worries.
Fast Funding for Your Business!
Benefits of Payroll Funding
- Same day approval, with initial funding in 2-5 days
- Working capital is sent within 24 hours of submitting an invoice, no more waiting for your customers to pay
- No debt is added to your balance sheet
- Years in business is not a factor
- Challenged credit it not a problem
- Assigned account team for your company
- Deal directly with decision makers
- No equity required, keep 100% ownership of your business
- Save time and money with a third party handling day-to-day accounts receivable