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Payroll Factoring 101: Recourse vs. Nonrecourse Factoring
You may already know that factoring is when a factoring provider like Encore Funding buys your outstanding invoices and transfers you cash. However, it’s important to understand the two main types of factoring, recourse vs. nonrecourse, before you decide how to manage your staffing firm’s capital needs. Read on to discover more about…
Read MoreEncore 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…
Read MoreRecruitment Strategies for Staffing Agencies
There’s never been a time in our country when recruitment has been more difficult. Our team of business experts understand your recruitment challenges and have strategies and tools to improve your process. This is just one reason why a growing staffing employment agency should partner with a company like Encore Funding. Contact us for recruitment…
Read MoreWhy Work with Encore Funding?
When you work with Encore… You gain a team of advisors that believes in YOU – your business, your vision and your potential. As a company that’s wholly dedicated to the staffing industry, we’re proud to support businesses that help millions of people make a living every single day. Learn more about our team of…
Read MoreFull-Service vs. Money-only Payroll Factoring
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…
Read MoreGovernmental Requirements for Starting Your Own Staffing Agency
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…
Read MoreStarting 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…
Read MoreHow to Price Your Staffing Services
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…
Read MoreHow Outsourcing Your Staffing Agency Back Office Functions Saves You Time and Money
There’s a lot to think about as you’re running your staffing firm. And with all those to-dos jostling for position, invoicing your clients can get lost in the shuffle. While your mind is likely working through ways to grow your business, critical yet tedious and time-consuming administrative duties can be left unaddressed. That could lead…
Read MoreHow Payroll Factoring Helps With Accounts Payable
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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