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    8 Replies Latest reply on Oct 22, 2008 2:28 AM by HealthLifeAGT

    need funding

    meducare1 Newbie
      I am a company based out of mississauga, Ontario Canada. I am looking for funding or investors for my company in the amount of 80,000.
      I own a medical staffing firm that is growing rapidly and looking to get an office, equipment and employees....looking to expand in to the U.S soon....

      Look forward to your responses

      Thanks,
        • Re: need funding
          LUCKIEST Guide
          Need funding, Welcome Have you developed a Business Plan that I can see??
          How long have you been in business?? You do NOT have an office NOW??
          How long will you need the funding?? and HOW and When will I get paid back??
          Where are you are expending to in the U S?? Is that in the Bus plan??
          LUCKIEST
            • Re: need funding
              meducare1 Newbie

              I do not have a business plan on paper as of yet, I have been in business 6 months, the funding is to help open up an office beacuse my company is getting bigger....I am looking to open in New York City most likely by next year.. I Am willing do pay the lender one a month at a reasonable fee....

              thanks,
            • Re: need funding
              MrCPA1 Newbie
              Do you accept credit cards??

              Getting a CASH ADVANCE is easy if you do.

               

              It works on the FACTORING of Receivables priciple.

               

              Most CASH ADVANCES can be processed in 7 days.

               

              Little paperwork.

               


              WWW.BusinessLoansFast.net

               

              Joe
              718-692-2274

               

               


              • Re: need funding
                moneymaster Newbie

                Recruiters

                !http://www.bibbyusa.com/upload/recruitment_finance_pic.jpg!

                Staffing

                How will this help my agency?


                As a staffing agency grows it requires access to increasing cash flow in order to deal with overlapping pay cycles and cover its payroll needs. If sales are increasing rapidly, profits alone will not cover this growth. More agencies have faltered not for want of profit but through lack of cash flow.

                 

                With our payroll funding solution, not only do we provide an advance of cash against the value of your outstanding invoices but then as invoices are raised we can release up to 90% of their value into cash within 24 hours of them being raised. The remaining 10%, less a small service fee, is paid to you once your customer pays. This means your business has access to an ongoing supply of cash linked to your sales. So as your business grows so does the amount of funding available to you.

                 

                We will enhance your cash flow and also reduce your administrative expenses and responsibilities by professionally dealing with time-consuming tasks such as credit control and collections, leaving you free to focus your manpower on key business tasks such as marketing for growth.

                 

                We has extensive experience in dealing with the staffing industry, over 15% of our clients being in this industry. As a result we understand the importance of dealing with staffing funding requirements promptly ensuring cash flow aligned with the businesses payroll cycle.

                 

                We can make available credit insurance for the businesses customers. We are also one of the few receivables funders willing to consider permanent placement funding as eligible as a proportion of your overall business volume.

                 

                Payroll Funding example:

                 

                Many staffing agencies can be adversely affected by their own success. As the agency grows it requires a greater amount of cash in order to cover its payroll needs. Unfortunately if sales are increasing quickly, profits alone will not cover this growth.

                 

                Here are some examples of this: If your agency is billing $20,000 per week with a 50% markup, its gross payroll will be $13,333. Adding to this the required employer portion of taxes (approximately 12%), means a weekly cash requirement of around $14,933. Now, assuming a five-week turnaround time on receivables, your agency must be able to cover $74,665 in payroll expenses in order to continue billing $20,000 per week. Using a gross profit margin of 25%, your agency will realize $5,000 in gross profits per week or $21,667 per month. Subtracting expenses for in-house salaries/commissions, rent, telephone, advertising, etc., your agency will be lucky to be left with $5,000 per month that can be invested back into the business to fund an increase in sales. At this rate it will take approximately 15 months to generate sufficient profits to create the additional $74,665 necessary to fund the increased payroll that will allow sales to grow to $40,000 per week. There are at least two problems with this approach: 1) Your agency has the opportunity to double its sales now, and you do not want to have to wait the necessary 15 months before your agency can bankroll the larger payroll; and 2) When your funding is limited, you are at your clients mercy - their not paying as quickly as you had expected may cause you to start sweating the dreaded bounced paychecks.

                 

                One possible solution is a bank loan. The obstacles to be overcome in selecting this alternative are twofold. First, banks do not relish lending money to new businesses. They like to see at least a two-year track record before considering making a loan. Second, banks, being the conservative institutions they are, require collateral to secure a loan, and what they prefer as collateral is either machinery, inventory or personal assets. Unfortunately almost all the assets of a temporary employment agency are in the form of accounts receivable. If your agency should receive a bank loan secured with receivables, it must be kept in mind that 1) it is often required that this type of line be paid off once annually and 2) the bank is unlikely to be willing to increase this line at a frequency that will keep pace with your anticipated business growth.

                 

                As a Receivables Funder, we can meet both those challenges. By advancing up to 90% of your accounts receivable within 24 hours of billing you have the cash to fund that growth. The facility also grows with the value of your accounts receivable therefore ensuring that you success is not your downfall.

                Payroll Funding - How much does it cost?


                Our services are tailored to your agency so the fees will depend upon your specific needs.

                 

                There are two types of fee. The first is the cost of the money you use, which is extremely competitive when compared with other forms of finance. The second is a service fee, which encompasses the collections service. We are happy to provide a proposal.

                Contact information:

                Mr. Shah 732-249-5700

                 

                Email: mgellc@gmail.com
                • Re: need funding
                  bizcap567 Wayfarer
                  Hello,

                  At Numa Financial we can help you get some funding for your business expanison. The majority of the businesses that we work with receive their funding in as little as 72 hours to 10 days. The only thing that you have to do is fill out a quick and easy application to receive capital. A high percentage of our applicants are approved and receive their funding in record time.

                  For more information and to see what we can do for your business, e-mail me at ascott@numafinancial.com

                  Thanks.
                  • Re: need funding
                    LUCKIEST Guide
                    MANAGEMENT SOLUTIONS IS NOW OFFERING START UP BUSINESSES LINES OF
                    CREDIT TO $350,000 NO DOC / STATED INCOME
                    FULL DOC TO $10,000,000
                    CALL MARK A. DIPRETE FOR DETAILS 401-942-3607
                    • Re: need funding
                      madereal Wayfarer
                      CONTACT ME AT 608-669-4434. I CAN HELP YOU OUT.MY NAME IS JEROME