This article will direct you on how to get money for payroll today. Same day funding available. If your business is interested in getting money for payroll immediately, then apply now, below or call: 919-771-4177.
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How to get money for payroll: How to steps, direction, and tips:
Need money for payroll today? if your business needs money for payroll asap,
this speedy program can get funding in your account by the end of the business day. Apply today.
Estimated Cost: $0
Total Time: Up to 2 days
Supplies Needed: Monthly payroll information, Time available
Tools needed: Internet connection, phone, computer
Step 1: Preparation
Review your current month’s payroll expenses
Calculate how much your business needs, for how long and how soon.
Step 2: Prepare your documentation
Tip: Start the process a week before needing payroll funding if possible to avoid missing your deadline payroll date.
Get your business financial information together. This includes an interim or monthly profit and loss statement, copy of your monthly payroll, tax returns and bank statements.
Step 3: Research payroll financing companies and programs
Look for payroll finance companies that meet your needs and requirements.
Contact qualifying companies and request their qualifying criteria
Match and prioritize your needs with the company that meets your criteria and you appear to qualify with.
Ask if your business will qualify or prequalify. Some lenders may be able to prequalify you over the phone prepare to submit your documentation
Step 4: Submit application information
Apply with the best qualifying company for your business.
Step 5: Approved or declined
Approved? Review terms. If you want to accept, provide all closing documentation and complete transaction denied? Contact lender to find out why you were declined and if there is anything that can be done to get approved.
If you cannot get approved, consider the reasons for the denial. Go back to other lenders you previously considered.
Ask those lenders if that will be a decline reason. If not, consider applying with that alternative lender.
How to get money for payroll – Frequently asked questions
What is payroll financing?
Financing that is used to help companies cover shortfalls in their payroll costs. It is based on the the average weekly payroll and can be used repeatedly to cover shortages.
Will we get 100% of the payroll that we need for all employees?
You can get the full amount needed to cover payroll. Qualifying is based on the gross revenue of the business. List the total monthly amount your business needs and the amount the company can pay.
Can we get the money by the end of the week to pay employees?
You can get money to make payroll as fast as one or two days. If your business applies early in the day then there is an excellent chance to pay employees the next day.
Can we use this financing in the future?
You can use the financing like a line of credit. Borrow, repay and use the line again.
Can we get payroll financing while we are still using PPP money?
You can combine PPP money that you received with payroll financing money now.
Info on how to deal with a PPP loan that was denied forgiveness.