Payroll Finance is a smart new method of rolling over company wages or salaries for periods of up to 2 months for established, profitable businesses. A payroll loan is a totally unsecured way for company's to raise working capital without affecting current credit lines or utilising traditional cash flow solutions such as factoring or invoice discounting.
The basic lending criteria are as follows:-
- Minimum company trading period 2 years
- Turnover should be at least £100k
- Minimum of 5 employees
Payroll lenders use a similar charging model to debtor financiers in that costs include a monthly service fee and interest is charged on any outstanding loan balance. To find out more about payroll loans or traditional debtor finance options visit Cash Flow Alternatives and work out the right solution for your company. |