In the 1980s, TemPay President Larry Holstein owned a permanent staffing firm that specialized in engineering and information technology and dabbled in the temporary staffing arena. Through this experience, he became familiar with the unique payroll funding needs of staffing agencies (accounts receivable, billing, collections, payroll funding, cash flow, payroll factoring, etc.) and decided to start a business called TemPay, Inc. that would provide quick and easy payroll factoring for these companies. On June 30, 2018, TemPay, Inc. stopped operating and sold the TemPay name and other assets to a new entity, TemPay, LLC. This transaction allowed the new TemPay, LLC, with new owners, to receive a substantial equity infusion permitting TemPay, LLC to enhance the services it provides to its customers.
Today, TemPay serves clients throughout the United States, including Puerto Rico. Its clients include temporary staffing firms specializing in administrative, healthcare, information technology and telecommunications, warehousing and light industrial, financial services and hospitality. TemPay continues to provide the same great products and services it has become known for to staffing agencies of all sizes and areas of specialty.