As a business owner, managing cash flow can be a constant challenge. One of the most significant expenses for many companies is payroll, which can be difficult to manage if your customers are slow to pay their invoices. One solution to this challenge is payroll pre-financing.

Pre-financing payroll, also known as payroll funding or invoice factoring, is a financing solution that provides businesses with an advance on their payroll expenses. Here, SBP Africa provides the funds needed to pay employees on time, while the business waits for their customers to pay their outstanding invoices.

The process begins with a review of the client’s payroll to determine the amount to be pre-financed. Once approved, SBP Africa transfers the monies into the client’s employees account as salaries.

Pre-financing payroll can help your business improve their cash flow, avoid costly late fees and penalties, and reduce the administrative burden of managing payroll.