Payroll loans, also known as payroll financing or invoice factoring, is a financial solution that provides businesses with immediate cash to cover payroll expenses. It’s particularly helpful for companies that experience a gap between paying their employees and receiving payments from customers. By accessing funds quickly, businesses can ensure timely payroll without waiting for outstanding invoices to be settled.
Payroll Loans
Borrower Criteria
| Required | Preferred | |
|---|---|---|
| Time in Business | 2 Months | 5 Years |
| Employees | 5 | 10 |
| Average Monthly Rev | $25,000 | $50,000 |
| Entity Structure | LLC / Corporate | LLC / Corporate |
Terms
| Amounts | Up to $500,000 |
| Payment Frequency | 1 to 4 Weeks |
| Closing Time Frame | 1 to 2 Days |
| Credit Pull | NO PG |
Documentation
| 6 Months of Bank Statements |
| Payroll Report |
| Aging Report or AR Report |
Benefits
| Enroll Under 5 Minutes |
| Get Approved 1-2 Business Days |
| Get Funded Same-Day You Request it |
PRE-APPROVAL FORM
*** All files are subject to full underwriting & qualifications specified by each bank. There can be no assurance that any applicant will be approved and that credit will be offered.***