Ask TemPay: Is My Information Private?

At TemPay, we respect our clients’ privacy. Your  clients will not know you are a TemPay client or receive payroll factoring. TemPay operates as an invisible partner, and paychecks, accounts receivable invoices and tax filings all bear your company name along with our lockbox remittance address. If we call your staffing firm’s customers, we do so […]

TemPay Payroll Factoring Fits Your Needs

One of the biggest challenges faced by staffing firms is managing cash flow efficiently because employees need to be paid weekly but payment from customers is typically 30, 45 or even 90 days away. TemPay helps you clear the cash flow hurdle with its payroll factoring and related services. TemPay provides financial backing and support, […]

What is Payroll Factoring?

TemPay offers a type of staffing agency finance called payroll factoring. In this method, staffing firms sell their accounts receivable invoices for a fee to TemPay and gain cash up front for expenses such as employee payroll. TemPay advances up to 90 percent or more of the agency’s invoice total, placing it among the highest […]

TemPay – Serving You Since 1994

In the 1980s, TemPay President and Founder Larry Holstein owned a permanent staffing firm. Through this experience, he became familiar with the payroll funding needs of staffing agencies and decided to start a business that would provide quick and easy payroll factoring for these companies. Holstein founded TemPay in 1994. The business now serves about […]

TemPay’s eCheck Method

TemPay’s eCheck payment option is like direct deposit. It emails its clients’ customers a form in which they provide the dollar amount to be paid and their bank routing and account numbers. TemPay then pulls the money directly from their account. This method works well for customers who have less than ideal credit because clients know the money […]

Other Business Funding

TemPay doesn’t just work with temporary staffing companies – we can provide payroll funding services to any business that regularly invoices creditworthy commercial customers. Payment terms must be under 90 days, and products or services need to have already been delivered. TemPay has factored companies in the following industries: • Staffing • Manufacturing • Software […]

The Benefits of Factoring

Understanding the details and proceeding with temp staffing factoring offer valuable benefits to the staffing firm. Factoring generally provides cash more quickly without the hassles of financial reporting review. For example, a traditional lender usually asks and takes significant time to review the staffing firm’s financial statements and tax returns, whereas a factor usually doesn’t […]