CASE STUDY: Custom invoice factoring financial services program makes meeting daily payroll easy. Nurse Staffing, Inc.
Nurse Staffing, Inc. approached MP Star with a very common cash flow management problem for temporary staffing firms: a need for daily funds to make payroll every afternoon.
Beyond bank funding: A daily factoring receivable need.
Nurse Staffing was using a bank’s accounts receivable financing program. However, the bank was not able to provide the business funding flexibility needed to meet daily payroll. As a result Nurse Staffing’s ability to retain nurses suffered.
Key cash flow management problems:
- Bank unable to extend business funding at desired frequency
- Company unable to attract and keep staff
- Ability to grow diminished
The Solution: Flexible factoring financial services save the day, every day.
MP Star worked with Nurse Staffing to set up a system to transmit their invoices and supporting documentation electronically. Each day, this invoice factoring system funded payroll, saved Nurse Staffing time and money, and supported retention and recruiting efforts.
MP Star’s ability to be flexible and work within the constraints faced by Nurse Staffing solved their cash flow management problems and delivered the daily business funding they needed. Learn how easy it is to start invoice factoring.
Long-term invoice factoring supports the business’ goals and growth.
Because of the nature of the business, ongoing invoice factoring arrangements have provided the essential business funding and flexibility Nurse Staffing, Inc. needs to care for their nurses as well as their patients. Read another successful business funding story.
Smart, flexible factoring financial services designed for healthy growth.
The recent practice of daily pay in the temporary and nurse staffing business means proper cash flow management is essential to attract and retain employees in competitive markets. MP Star’s ability to design custom factoring financial services for our clients allows us to meet the specific needs of this highly specialized company and industry for the long term. Let us do the same for you. Contact us for your custom factoring financial services program, or request a free invoice factoring quote today.