How and when do I receive money from my factored accounts?

At TemPay, we pride ourselves on our quick and easy payroll factoring application process.

 

When you contact our sales department, a sales representative will collect information about your staffing agency. You will then complete a confidential credit application form that includes both personal and business information.

 

After receiving the application, TemPay will initiate a credit check on you and your business. Once you are approved, we will meet with you to discuss rates, terms and conditions and then draft a contract.

 

After the contract is signed you’ll need to provide:
• Employee names, Social Security numbers and other payroll information
• A spreadsheet listing all of your accounts receivable invoices that we will factor, along with copies of invoices and timesheets
• Your banking information so we may wire weekly advances to your account for invoices that you would like TemPay to factor

 

Once we receive your invoices and they have been verified with your customers, TemPay will immediately wire funds to your account.

 

For information on TemPay and payroll factoring, visit www.tempay.com or call (866) 683-6729.