As the country deals with high unemployment rates (8.1 percent as of August 2012); the one sector that has shown significant growth is temporary work. In fact, according to Investors.com, temporary employment has risen by an astounding 44.5 percent since 2009. To help staffing firms obtain the capital they need to grow, CBC has created a financing platform specifically for staffing the staffing sector. (Capital Business Credit Launches Financing Program Aimed At Staffing Sector)
Staffing firms pay their employees on a daily, weekly or bi-monthly basis; however, they are only being paid once a month by the customers employing their candidates. This gap in time between when a firm has to pay their employees and when they receive customer payment can be crippling if a firm doesn’t have the capital they need. As a non-bank lender Capital Business Credit will provide facilities between $1 million and $10 million to ensure this industry has the resources it needs to keep American workers employed.