Priority Lending helps staffing agencies find the right loans and financial products to grow their business. Staffing agencies need an office location and funds to pay for it, IT equipment to manage their files, training resources, funds to pay staff salaries, funds to pay other recurring expenses like electricity bills, office inventory, etc. And of course, they need to pay the employees they recruit for their clients – often on a weekly or bi-weekly basis.
Staffing agencies clients often have a 30-day or longer invoicing cycle which means they will need funds ready to pay the employees they recruit for their clients before their clients pay them. Fortunately, Priority Lending has good relationships with Canadian lenders who have financial products and loans that can cater exactly to the needs of a staffing agency. These are meant to help resolve any urgent need for working capital that arises.
When you get in touch with Priority Lending for your staffing agency financing requirement, we ask you to fill a simple form which you can do in person or on phone. This form is meant to collect your background information which will be needed for loan processing. Our turnaround time with loan disbursement can be as fast as one to two business days.
Terms and interest rates of a loan depend on your credit history, the amount of loan sought and the future prospect of the business. With Priority Lending, we handle the paperwork and other processes that are involved in the lending business in order to ensure that you get the funds in your account as quickly as possible.