Get money for payroll today. Same day funding available. If your business is interested in how to get money for payroll immediately, call us or apply now below:
How to get money for payroll:
- Review your payroll needs. Calculate how much you need, for how long and how soon.
- 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.
- 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 company that meet your criteria and can qualify with.
- Once approved, review terms and contact. If accepted, provide all closing documentation and complete transaction.
Received funds for payroll into your business checking account.
F.A.Q.’s, Frequently asked questions, comments and requests.
Need money for payroll asap. Can you fund payroll today?
Answer: In many cases, yes. If you qualify and apply before 2 P.M., same day funding may be possible.
We may need money for payroll again. Can we use this financing in the future to financing payroll?
Yes. You can use the financing like a line of credit. You borrow, repay and reuse the line again.
“How long can we borrow the money for?”
Terms are usually 30 to 90 days. Options are available for longer term if your business qualifies.
How can you get money for payroll?
Find companies that offer company payroll financing.
Find out what their requirements are.
If qualified, apply.
Once approved, provide all closing documentation required.
Receive funds into your business checking account.
More F.A.Q’s. frequently asked questions:
What if I have 1099 contractors and are not official employees of the company?
Indicate this when applying. There are programs available to financing your employees if they are 1099 employees.
I only need payroll financing this time and do not expect to need it in the future. Can I get longer term payroll loan?
There are longer term programs if you believe your company will rarely need payroll financing in the future. Terms available are monthly and can be financed for as long as three to five years.
Is credit important when applying for payroll financing?
Credit is not a main factor in payroll financing. The strength of your business and cash flow of your business is more important.
If I do not qualify for payroll financing, are there other programs available?
If your business does not qualify for payroll financing, there are other programs you may qualify for to meet payroll.
These include the following:
Bank statement loans
Loans based on the cash flow of your business. If your business generates more than $7,500 per month in deposits and has more then 4 deposits per month.
Accounts receivables financing
If payroll financing cannot be obtained, another option is also accounts receivables financing. If your business is waiting more than 2 weeks to get paid on invoices and needs funding within one or two days, consider accounts receivables financing. Get paid approximately 75% of the face value of the invoice immediately. Once the company you have invoiced pays, get the remainder less a 1% to 4% fee.