Running a business comes with its share of financial challenges, especially when it comes to managing payroll. Ensuring that your employees are paid on time is crucial for maintaining morale and productivity, but what happens when cash flow issues arise? Payro’s payroll funding options provide a reliable solution to keep your business running smoothly, even during financial crunches.
What Is Payroll Funding?
Payroll funding is a financial service that provides businesses with the necessary funds to meet their payroll obligations. It bridges the gap between cash flow shortages and payroll deadlines, ensuring that employees are paid on time without putting undue strain on the business’s finances.
How Payro’s Payroll Funding Works
Payro offers flexible payroll funding solutions tailored to meet the unique needs of your business.
Apply Online
Payro reviews your application and provides a decision within 1-2 business days.
Depending on credit criteria, you can be approved for up to $500,000 of coverage.
Required documents include six months of bank statements.
Request Funding Online, Anytime
Once approved, simply log in to your Payro account and access funding as needed.
Funds are deposited to your account the same day, allowing you to process payroll without delays.
Repay in 0-4 Weeks
Your account will autopay on the preset date.
There is no early payment penalty if you repay sooner with available funds.
Benefits of Payro’s Payroll Funding
No Cost to Sign Up. There are no initial costs associated with signing up for payroll funding.
Low Usage Fee. A nominal fee of just 1.5% to use the service.
Same-Day Funding. Access funds the same day you request them, ensuring timely payroll processing.
Prequalifications
To qualify for Payro’s payroll funding, your business must meet the following criteria;
Have at least 5 employees.
Be in business for over 2 years.
Maintain an average monthly revenue of $25,000 or more.
FAQs
Will my credit score be affected by applying?No, your credit score will not be affected by applying for Payro’s payroll funding.
What is the deadline to request same-day funding?The deadline to request same-day funding is 2 pm EST.
How long will it take to get approved?Approval typically takes 2-3 business days.
What if my payroll is more than the approved amount?You can get funded up to your credit limit, ensuring you have the necessary coverage.
Conclusion
Financial challenges shouldn’t stand in the way of running a successful business. With Payro’s payroll funding options, you can ensure your employees are paid on time, every time, without the stress of cash flow issues. Let Payro handle your payroll funding so you can focus on what you do best – growing your business.
Contact
Call Payro at 1-833-271-4499
Or email them at processing@payrofinance.com
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