Encore Funding Acquires Two National Companies, Millennium Funding and TemPay

Landmark deal sparks new funding opportunities, expanded services for staffing and transportation industries. Encore Funding, an alternative lender that unlocks capital and strategic support for entrepreneurs in the staffing and transportation industries, is pleased to announce its acquisition of two national companies: Millennium Funding, another alternative lender that provides working capital to the staffing and…

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Full-Service vs. Money-only Payroll Factoring

How to choose the right business

Payroll factoring is one of the most popular types of business finance. Within that, there are two types of factoring: money only and full service. Money-only invoice factoring provides strictly payroll funding. You process your own paychecks, print your own invoices and file and pay your own taxes, while the factor delivers cash to cover…

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Governmental Requirements for Starting Your Own Staffing Agency

Business Handshake

As businesses go, staffing companies are relatively easy to launch, requiring fewer licenses and less paperwork for business owners than businesses in other industries. So, it’s no surprise that starting your own staffing agency is a popular business venture, with new staffing companies popping up left and right. However, if you’re thinking of starting your…

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Starting a Staffing Agency

How to start a staffing agency

How to start a temporary staffing agency in 6 Steps Starting a staffing agency may seem daunting, but staying organized and focused is key. Follow these simple guidelines for how to start a staffing agency, and you’ll be well positioned for future success. Gain experience. Too many people start a staffing business with little to no…

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How to Price Your Staffing Services

How to price

Setting the prices for your staffing firm’s services can be tricky. Some of the costs that you need to cover are obvious — the pay rate of the worker, employer taxes (FICA, Medicare, SUTA, and FUTA), workers compensation, any benefits that are paid, plus overhead. But determining the remainder of the markup is difficult, especially…

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How Payroll Factoring Helps With Accounts Payable

How payroll factoring can help

In a perfect world, you would send an invoice to a client and the client would send you a check upon receipt. But in reality, it hardly ever works that way. Instead, you send an invoice, and it could be 30, 60 or even 90 days before you get paid, which can make it difficult…

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What is Payroll Factoring?

Two coworkers sitting at desk looking at computer

Staffing agencies have a wide range of financial obligations, from workers’ compensation insurance and office rent or mortgage to advertising and marketing and office equipment upkeep and purchases. Yet one of the biggest financial challenges is payroll funding for your staffing company. Many staffing agencies choose to finance their payroll invoices through a factoring company…

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