Staffing Services Funding
The staffing services industry is projected to grow at an average rate of 4.2% per year. Provide your clients with the best staffing service with up to $500,0000 in funding from Greenbox Capital® as fast as 24 hours.
Fast Staffing Services Funding You Can Trust
Businesses of all sizes rely on staffing services to fill short-term and long-term positions vacancies quickly and effectively, including in niche areas or specific populations such as veterans or people with disabilities.
The Small Business Administration and commercial banks often consider staffing agencies “high-risk” because of high turnover rates and unpredictable revenue streams based on the hours employees work. While you’re waiting for funding, your clients may suffer and valuable opportunities for growth can be lost.
With a streamlined online application, fast turnaround, and flexible approval requirements, Greenbox Capital® can approve more staffing agency funding than traditional lenders. We can also approve funding faster, with funds deposited in as little as one business day. We provide multiple types of staffing agency funding to help grow your business, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all staffing businesses, including recruitment agencies, contract-to-hire businesses, and more.
How To Use Staffing Services Funding
There are no restrictions on how you can use funds from Greenbox Capital. Staffing agency funding is ideal for supporting your business’ working capital, placing more workers, and providing the high level of service that your staffing agency requires. Use your funding to:
- Meet payroll demands
- Fund expansion plans
- Invest in employee development and training programs
- Widen your appeal and attract new clients by investing in marketing
- Print new marketing materials, like business cards, flyers, billboards, or brochures
- Investing in new technologies
- Providing resources so you can take on larger contracts and bigger clients
Sometimes, staffing agencies need a quick infusion of working capital to help meet the unique challenges of their field, such as:
- To maintain compliance with business licenses
- Cash flow issues
- Support your business during a slow period
- Provide working capital for rapid growth spurts
- Unforeseen changes in market conditions
How Staffing Services Funding Works
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
Will You Qualify for Staffing Services Funding?
Exact qualification requirements depend on the type of staffing services funding you are seeking. Approval for staffing services funding from Greenbox Capital isn’t based solely on your credit score or financial history. We focus on the overall health of your business, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Staffing Services Funding Q & A
How can I get funding for a staffing services business?
You can get funding for a staffing agency from traditional lenders like the SBA or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business—not just your credit score—and offer revenue-based financing options that are more ideal for businesses with lower credit scores, such as merchant cash advances. Contact one of our Funding Advisors to learn more.
Maintaining employee records and managing payroll is one of the biggest challenges my staffing business faces. Could I use my funds to invest in employee management software?
Investing in some reliable software tools that will streamline the process for you is a great way to utilize your staffing business funding. Not only will it save you lots of frustration in the long run, but it will also help your business reach its full potential by allowing you to focus on what really matters.
Why should I consider an alternative lender for my staffing services business?
Traditional lenders can take weeks or months to review and approve your loan application. If you’re looking for a way to streamline your cash flow, as an alternative lender, we have different approval requirements and can approve funding for a staffing services business. We can provide you with the funds you need to cover project expenses, operating costs, and more, often in less than 24 hours.
What are the typical uses of funding for a staffing agency?
There are many ways you could use your funding. Some uses of funding for staffing services could include covering the costs of recruiting and onboarding new employees, paying for office space, and covering marketing expenses. In addition, funding can be used to improve the quality of your services by investing in new technology or training staff members to better meet the needs of your clients. Make sure to consult with one of our Funding Advisors to ensure you are using your funding in the most efficient and effective way possible
Are there any restrictions on how the funds can be used?
There are no restrictions on how your funds can be used. We have a very simple application process, with same-day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
Which type of funding is best for a staffing agency?
A merchant cash advance is one of our most popular funding options. A merchant cash advance is a form of unsecured funding that small business owners can use to finance their businesses. We recommend you speak with one of our knowledgeable Funding Advisors—they can help you explore all of the available funding solutions for your business.