PAYROLL FUNDING
Slow Paying Customers? We Can Help You Get Paid Faster.
Funding payroll can be a challenge without a constant source of cash flow. Even if your customers pay within 30 days, your employees likely need to be paid sooner. If your customers have longer payment terms of 45, 60, or even 90 days, Payroll Funding may be a necessity for paying your employees on time. SouthStar Capital’s expert team has 30+ years of experience in providing flexible Payroll Financing solutions to a wide range of industries. If your company is struggling to make payroll and needs extra funds, we can help!
Slow paying customers, rapid growth periods, seasonal patterns, and other factors can create cash flow challenges for your business. We offer custom financing solutions designed specifically for your business. We’ll get to know and understand your company, so we can provide the perfect solution for your payroll funding needs.
How does Payroll Funding work?
Rather than waiting for your customers to pay, SouthStar will advance up to 95% of the total value of your unpaid invoices immediately, then you receive the remaining balance, minus a small fee, once the invoice is paid. By having access to same-day funding, you will always have the cash flow needed for payroll, as well as other expenses. The process creates zero debt for your company, so you won’t have to worry about paying back loans or high interest rates.
Happy employees form the cornerstones to any successful business. Keep them happy by guaranteeing they will be paid on time. SouthStar’s Payroll Financing solution can be used to pay employee wages, worker’s compensation, benefits, and other payroll requirements. In addition to funding payroll, you can use the extra working capital to cover other business expenses, take on new clients, and growing your company.
Get the cash you need today!
The 5 Steps of Payroll Funding
- You provide products or services to another creditworthy business on terms.
- You send the invoice to your customer and send the invoice, along with any support documentation to SouthStar Capital.
- SouthStar will verify the invoice then advance up to 95% of the invoice directly to you.
- Your customer then pays the invoice by ACH, wire transfer, or a check made out to your company, but sent SouthStar Capital’s address.
- SouthStar then sends you the invoice balance, less our fee. We can repeat this process as often as you generate an invoice.
Benefits of SouthStar’s Payroll Funding
- Same day approval/closing in 2-5 days
- Working capital is sent within 24 hours of receiving invoice
- Deal directly with decision makers
- No maximums for monthly receivables
- No debt is added to your balance sheet
- Challenged credit is a non-issue
- Years in business is not a factor
- Assigned account team for your company
- No equity required, keep 100% ownership of your business
- Save time and money with a third party handling day-to-day accounts receivable
What to Expect with Payroll Funding
When funding your payroll with SouthStar, you will be assigned a personal account manager who will handle collections, payment processing, and customer credit approvals, allowing you to focus on your business. With Payroll Financing, we look at the credit history of your customer, not your company or personal credit history. Years in business is not a factor in our decision to finance, making Payroll Funding great for start-ups. Once established with SouthStar, you will receive same-day funding on submitted invoices. This gives you access to unlimited working capital, right when you need it. Payroll Financing also allows you to extend longer payment terms to clients and grow your business.
“Business was good and our company was growing, but our slow paying clients had our cash flow tied up in invoices. Paying our staff on time was a constant struggle that resulted in us losing employees. SouthStar’s Payroll Funding has really turned our business around. Now I have the cash I need to pay employees on time and I’ve used the extra funds to take on more clients.”
– Andrew, Owner of a Distribution Company