What is Recruitment Finance?
Designed for the HR and Recruitment Industry
Recruitment Finance is a type of Working Capital Finance tailored to the needs of businesses within the HR and Recruitment industry. It’s a complete finance and back office package.
We advance cash against your temp or perm placements as well as facilitate the processing, payroll and credit control demands by giving you access to RSM’s market-leading Recruitment Pay & Bill services.
Why use Recruitment Finance?
We ease the pressure of cashflow and the burden of the payroll process. Our specialist recruitment team ensure that everything runs smoothly giving you more time to concentrate on running your business.
What are the main benefits of Recruitment Finance?
Recruitment Finance is ideal for any timesheet-related company that is paid to credit terms and needs support with their back office administration and working capital. Some of its benefits are:
- Cash is released within 24 hours of your first payroll
- It costs less than an overdraft facility
- It can help you provide credit terms to your customers, making trading with your business more attractive
- It can help you pay your bills and wages
- It can help you grow your business by removing pressure points on your administration and cashflow
How is the facility repaid?
We process your time sheet information and then advance the cash to meet your payroll cost. Once your clients pay the invoice, you’ll get the balance owed to you, minus our fee. We can fund up to 95% of your unpaid invoice value, up to £5 million.
How much does Recruitment Finance cost?
Recruitment Finance can be a very cost-effective way to protect your cashflow. The fees you pay will depend on various factors such as the amount advanced and duration. But we’re always competitively priced and always completely transparent. There are no hidden fees or charges.