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Payroll Finance

Payroll Finance

What is payroll finance?

Payroll finance overcomes cash flow problems that may leave the business struggling to make wage payments to its employees by supplying your business the capital to cover this, as well as the tax and National Insurance contributions that must also be made.

Payroll companies advance the capital equivalent to the sum you need over a specified number of months before you pay back the loan, plus interest, over the determined time period. Typically, payroll finance is secured for two months.

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To qualify for this payroll solution, your business’ finances, trading record and existing credit limit will have to meet the payroll companies’ criteria and you may have to borrow a minimum amount, but if you are applicable it can supply your business with a vital cash flow solution.

What benefits can payroll companies provide?

  • Payroll finance is a very specialised cash flow solution as the loan is specifically leveraged to deal with paying wages.
  • It is one of the most flexible payroll solutions available to help your business’ cash flow as you can choose when you would like to use the facility.
  • Payroll finance can be secured alongside other cash flow finance solutions, such as invoice finance, which release cash against the value of your sales ledger.

Is payroll finance suitable for my business?

It can be difficult to decide whether payroll finance offers the necessary level of payroll support or if a more general invoice finance solution will provide just as effective a cash flow facility, but Hilton-Baird Financial Solutions could assess your business’ payroll and funding needs to identify the right source of financial help that satisfies them.

With extensive experience in helping UK businesses’ payroll management, we have access to the best payroll solutions available on the market from the right payroll companies to help your business overcome any cash flow problems it may be experiencing.

Call us on 0800 9774833 or email info@hiltonbaird.co.uk for more information how payroll finance can boost your working capital, or get an invoice finance quote to find out how much capital you could release from your debtor book.

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