Payroll Loans & Financing
Payroll loans improve cash flow so you can pay your employees on time.
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with a Proven Track Record
Since 2008, we've grown with the companies we support.
What is a Payroll Loan?
A payroll loan is a type of small business financing that improves cash flow during times when finances might be tight. It is a short-term loan designed to ensure businesses can always pay their employees on time before the revenue comes in. They are typically used when waiting on invoices to get paid from customers, waiting for insurance payments, or when you know the money is coming, but it hasn't arrived just yet.
How Payroll Loans Work
Payroll funding comes in multiple forms. Some businesses leverage traditional loans to cover payroll costs. These are longer-term loans spread over several months. A line of credit is another way for businesses to access fast cash. Then there are merchant cash advances which get repaid over time with a business's credit card sales. Each type of loan has different terms and interest rates. Businesses take out the loan to cover payroll costs and as revenue comes in, they pay back the loan.
Use Cases
How To Use a Payroll Loan
Payroll loans are a good indicator that a business is experiencing a cash flow problem. They can cover costs associated with wages, bonuses, commissions, and even payroll taxes that get paid to the IRS. There are many ways to use small business payroll loans.
Learn Why Us-
Retain Employees
Paying your staff on time every time helps you retain employees, and using payroll financing ensures you always have the means to give them a reliable income.
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Hire Extra Workers
Growing your business sometimes means you need to hire more staff before you have the income. Payroll loans help you hire more people.
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Manage Short-Term Cash Shortages
Payroll loans can bridge the gap during temporary cash shortages and create better cash flow when needed.
Why Apply for a Payroll Loan?
Access Additional Cash
Business payroll loans give you access to another cash flow. This is especially helpful during seasons when you need it the most.
Keep Business Operations Running
No business owner likes to run out of cash. A payroll loan can help free finances in other areas of the business so that everything runs smoothly.
Keep Employees Happy
Don't be the employer who is always paying late. Payroll loans keep employees happy so they will never know when there is a cash flow problem.
Minimum Eligibility Requirements
Many businesses can qualify for a payroll loan if they meet the minimum requirements. Here’s what you need to get payroll funding.
| Time in Business | Minimum 6 Months |
|---|---|
| Business Annual Growth Revenue | $240K+ Annual Revenue |
| Business Checking Account | Yes |
| US Citizen/Based Company | Yes |
| FICO Score | 570+ |
| Other Financing | None |
| Bankruptcies | None open |
Better Your Business With Samlend Financial
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Grow Your Business
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Get Quick Access to Cash
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Retain Valuable Employees
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Hire Additional Skilled Workers
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Manage Cash Shortages
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Avoid Having to Cut Costs
Case Studies
Communications Expansion
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Funding Amount: $1 Million
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Approval Amount: $1.2 Million
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Industry: Telecommunications
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Use of Funds: Expansion
Featured Funding
Stabilizing Growth
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Initial Funding Amount: $750,000
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Add-on Opportunity: $450,000
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Industry: Manufacturing
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Use of Funds: Financial Stability, Growth
Automation Growth
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Funding Amount: $300,000
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Approval Amount: $450,000
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Industry: Manufacturing / Automation
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Use of Funds: Working capital
Featured Funding
National Food and Beverage Franchise Network
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Funding Amount: $1.4 million
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Industry: Food and Beverage Franchise
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Use of Funds: Expansion and Renovation
Organic Growth
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Funding Amount: $750,000
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Approval Amount: $1,400,000
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Industry: Organic Food Grower
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Use of Funds: Cash Liquidity
Featured Funding
Delivery Service Expansion
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Funding Amount: $100,000
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Industry: Delivery Service
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Use of Funds: Equipment
Supporting Growth in Construction
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Funding Amount: $300,000
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Early Renewal: Additional $300k available in 60 days
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Industry: Construction
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Use of Funds: Cash Flow
Featured Funding
Physical Therapy
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Funding Amount: $1,000,000
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Industry: Healthcare
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Use of Funds: Expansion, Cash Flow
Subordinate Position
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Funding Amount: $2,000,000
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Approval Amount: $2,700,000
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Industry: Professional Services
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Use of Funds: Expansion, Cash Flow
Bridge Capital for Explosive Growth
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Funding Amount: $1,000,000
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Approval Amount: $2,500,000
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Industry: Construction
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Use of Funds: Bridge Financing, Expansion
Empowering Healthcare Staffing Growth
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Funding Amount: $1,000,000
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Approval Amount: $1,400,000
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Industry: Healthcare Staffing
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Use of Funds: Expansion
Facilitating Growth in Commercial Forestry Industry
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Funding Amount: $750,000
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Industry: Forestry
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Use of Funds: Hiring Additional Staff, Acquiring New Equipment and Materials
Opportunistic Growth
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Funding Amount: $400,000
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Industry: Electric Company
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Use of Funds: Opportunistic Growth
Fueling Expansion
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Total Funding: $5,000,000
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Renewals: 4 times in 16 months
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Initial Funding: $1,100,000
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Industry: Commercial Storage
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Use of Funds: Cashflow Gaps, Growth
Crafting Culinary Success
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Funding Amount: $1,000,000
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Industry: Specialty Food
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Use of Funds: Production, Technology, Marketing
Fitness Transformations
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Funding Amount: $150,000
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Industry: Fitness and Wellness
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Use of Funds: Expansion
Brewing Success
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Funding Amount: $170,000
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Industry: Food and Beverage
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Use of Funds: Product development, customer experience, marketing
Empowering Wellness
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Funding Amount: $750,000
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Industry: Health and Wellness
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Use of Funds: Bridge Financing
In with the View
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Funding Amount: $240,000
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Industry: Construction
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Use of Funds: Expansion
Growing Green
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Funding Amount: $750,000
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Industry: Landscaping
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Use of Funds: Payables, Expansion
Crafting Success
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Funding Amount: $800,000
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Industry: Manufacturing and Wholesaling
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Use of Funds: Equity Raise, Production, Efficiencies
Advancing Medical Excellence
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Funding Amount: $720,000
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Industry: Healthcare
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Use of Funds: Equipment, Staffing, Patient Experience
Fashionable Success
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Funding Amount: $300,000
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Industry: Retail
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Use of Funds: Inventory, Renovations
Charting New Horizons
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Funding Amount: $220,000
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Industry: Travel and Tourism
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Use of Funds: Product Offering, Technology, Partnerships
Business Expansion Loans FAQ
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Lines of credit and merchant cash advances are the two most commonly used types of payroll loans. Traditional loans and factoring are two other options when businesses need better cash flow for their payroll expenses.
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Yes, they are a great idea if you're at risk of being late paying your employees. While they are typically used as a last resort, paying your staff on time is critical if you want to stay in business and hire great talent to work for you.
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If you meet the minimum eligibility requirements for a payroll loan, you bring proof of your business longevity, income, and other requirements to a lender, and fill out their application. The process often takes less time than traditional lending.
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The rates for payroll financing varies, but can be anywhere between 15 and 30 percent. These loans have higher interest rates because they can be more risky for the lender. You may qualify for discounts on the interest rate if you've taken out and successfully paid back a payroll loan.
What Sets Us Apart from the Rest
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