Meet Payroll or Expand Staff

At Business Funding, we understand that labor accounts for a significant portion of your business costs. Truth be told, you already know that you can’t pay enough for good people. That said, it’s sometimes challenging to meet your payroll.

It sounds a bit cliché. However, most business owners recognize their people as their greatest assets. Obviously, your inability to adequately fund your company’s payroll will impact your business operations.

The last thing you need is great employees walking out the door. Meanwhile, it goes without saying that few can afford to work without pay or wait for their paychecks. Nor, should they.

For a variety of establishments, predicting business ebbs and flows represents a daunting task. Inevitably, volatility or even small changes impact operational needs. Either can make money management problematic throughout different stages of a company’s growth.

In the meantime, lack of a steady cash flow serves as no excuse for missing out on payroll obligations. You need a solution that gives you peace of mind when, and if, you need it.

Merchant Cash Advance to Meet Payroll

With a merchant cash advance, you won’t have to worry about payroll funding. The application process is simple. Better yet, you’ll have money in hand quickly to ensure your employees receive the compensation you promised them.

Among the many benefits of working with payroll funding companies, your chances of approval are high. For many new or struggling business entities, this alone sounds inviting.

You shouldn’t think of a merchant cash advance as a business loan. Instead, you’re taking an advance on your credit card sales as they come in day after day.

You leverage your company’s future sales in exchange for the cash you need to meet payroll. However, it’s your choice whether to dedicate the money solely to payroll. You can allocate the cash advance to any part of your business.

Expand Your Staff

As your business opportunities surge, you may decide to expand your staff.  In some cases, it could be as simple as taking on seasonal workers or temporary employees.

All things considered, increasing your workforce suggests company growth. Inventory costs and other expenses almost always multiply as well.

The evolution of your business continues to rely on outside factors. You may decide to hold off on staff expansion if you’re concerned about the additions to your payroll.

You should not let your concerns about payroll funding deter you from adding employees necessary to your company’s growth and success. Failure to do so could result in the following:

  • Missed deadlines
  • Poor work quality
  • Overextended existing employees
  • Canceled customer agreements/contracts

The bottom line is that an understaffed organization of any kind runs the risk of losing business. Additionally, you could sacrifice members of your existing workforce to a company with more realistic expectations.

Meanwhile, some employees actually generate more revenue. By that same token, others take on roles that relate solely to overhead. Both could prove critical to your business model.

The advantage of the merchant cash advance for staff expansion is its flexible nature. You won’t have concerns about your ability to make it with the new add-ons to your payroll.

Learn More

Business Financing helps entrepreneurial business owners understand the advantages of merchant cash advances. Contact us to learn how we can help you meet your payroll needs and take the steps to expand your staff. We’re excited to be part of your growing business!

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