Would you like to eliminate the stress and anxiety of funding your weekly payroll?
One of the worst days for a business owner is having to call the bank and inform them that the big check didn’t arrive on Wednesday, and you’re going to be too short to fund the Friday payroll run. It’s also one of the worst days for the banker to take the call. In the old days, it was not a big deal for the bank to fund the short-term overdraft. Unfortunately, those days are long gone.
The exciting news is that there is a solution to this problem.
There are lenders that will provide a credit facility to fund short term loans to cover your payroll run.
The company establishes the credit facility and has it available if the need arises. If the big check doesn’t arrive and help is needed, the company simply provides the lender the payroll run, the lender funds the payroll processing firm and provides the company one to four weeks to pay the loan back.
It’s a sort of payroll funding back-up plan.
This type of program is ideal when tight cash flow concerns are keeping you from accepting an additional profitable project or growth opportunity.
Please note — It is not a solution for tight cash flow due to losses.
Contact me at [email protected] to review your situation and explore the funding options available to you and your business.