TemPay payroll funding application FAQs

At TemPay, we often receive questions about our payroll funding services. Here, we answer your most frequently asked questions about the payroll factoring application process.


Do I have to pay a fee to get started or for you to process my application?

No. We believe in being up front, and that means no hidden costs.

TemPay doesn’t charge additional fees for items such as application, Dun & Bradstreet reports (including its 24/7 credit monitoring service), postage, envelopes, invoices, wire transfers, etc.

How long does it take to process my application for payroll funding?

Your application can be approved within 24 hours for next-day payroll factoring.

Do I have to be an established business or operate a minimum number of years to be approved?

No. Staffing firms of all sizes and in all stages of their life cycle can receive payroll factoring, whether you are starting your own staffing agency or are established in the field, and regardless of the number of clients.

Do I have to factor all of my invoices?

Full-service clients must allow us to handle all of their temporary business. Our money-only clients must offer the opportunity to factor all new customers. If we choose not to factor a particular customer, you can choose to self fund that customer.

 Is there a lien of my receivables as collateral?

Yes. TemPay takes a first position on your accounts receivable while you are factoring.

Does TemPay require additional collateral?

No. TemPay does not require any collateral besides your accounts receivable.

 How long do I have to commit to factoring my invoices?

TemPay typically signs one-year contracts. We are also happy to negotiate longer contracts, often at lower rates.


We hope these FAQs have answered your questions on TemPay’s payroll funding application process. Please visit our Resources section for more helpful information. Otherwise, you can get started with our Credit Application for payroll funding. Please contact us if you have unanswered questions.