What is Recruitment Finance?
Recruitment Finance can help your business to release cash against your outstanding client invoices before they’ve been paid. This means you can pay your temporary workers and contractors while waiting for your clients to pay. Recruitment Finance is an ideal solution for new, growing and established recruitment businesses. Working with Bibby Financial Services, you have access to a dedicated specialist team who’ve worked in recruitment. As well as providing funding, we offer back office solutions that manage and pay candidate wages, issue payslips, invoice clients, collect payments and maintain statutory records, so you can focus on developing your business.
Who can benefit from Recruitment Finance?
We work with clients who place candidates across all sectors including nursing, medical, hospitality, logistics, warehousing and teaching. If you issue invoices with payment terms of between 30 and 90 days, Recruitment Finance to release cash from your invoices is ideally suited to your recruitment business. If you choose to use our credit control service to collect payments, you can also benefit from an additional relationship as our credit control team liaises with your client’s account team. We work on your behalf, so you can use your time to develop opportunities and grow your business rather than managing invoice payments. You also have 24/7 access to real-time online status reports using our account management system.
Why should I use Bibby Financial Services?
Our specialist team has worked in the recruitment sector and directly with recruitment businesses, so we have a detailed understanding of the industry and payroll management. We pride ourselves on being able to offer flexible solutions that add meaningful value and are proud to have been awarded the Recruitment International 2017 Best Banking and Financial Services Supplier Award.
How long does it take to get funding in place?
Getting to know your business is our priority. We want to make sure we know all the relevant information about your business to give you the right solution. Setting up your account usually takes a few weeks, once you’re on board with us and we receive a copy of your invoices, you’ll receive payment to your account within 24 hours and we can start collecting payments on your behalf.
What do I need to do to arrange Recruitment Finance with you?
You can request a quote online, call us to have a no-obligation confidential chat with one of our Recruitment specialists, or arrange a meeting. We’ll need to know about the history of your business and an what your business requirements are. Then we’ll take it from there.
How much will it cost me?
We are highly competitive and believe the value we offer is as much about the funding and experienced team we can offer you to help support your development. Costs are dependent on how many invoices we fund for you and whether you choose to use our back office support.
Who are Bibby Financial Services (BFS)?
A leading independent financial services partner to over 10,000 businesses across the world, we’re proud to feature in the Sunday Times Top 100 Best Companies and be awarded the Best Banking and Financial Services supplier at the 2017 Recruitment International Awards. Also, our client satisfaction rating is an impressive 92%.