Lone Oak Payroll

Marielis Gomez knew her passion for staffing would take her far in starting her own firm. She also knew every good staffing firm needed a strong tech stack behind them to succeed. “I found my dream solution in TempWorks and Lone Oak Payroll,” she says. Learn why: “I chose TempWorks because I knew it had the power and flexibility to help me track applicants, employees, and job orders, having used it earlier in my career. Being able to pair it with Lone Oak’s funding was a huge advantage. Payroll management is something that could easily make or break my company. Thanks to TempWorks and Lone Oak, I’ve had the cash flow necessary to say 'YES' to job orders and keep payroll running. Overall, our experience with TempWorks and Lone Oak has been incredible. They truly are one of the best partners I have had in business, and I would definitely recommend them to any staffing agency, big or small.” #Staffing #StaffingIndustry #Testimonials #StaffingTechnology #Entrepreneurs TempWorks Software, Inc

As proud partners with GSA, we're excited to share our sales expertise with Georgia staffing firms this week. Join us in Atlanta on 7/17 for "Territorial Sales 101," where Justin Flewellen will share invaluable tips & tricks for managing and growing your market areas. Drawing from his extensive staffing experience, Justin's session is sure to give you actionable takeaways for connecting with customers and talent. #StaffingIndustry #StaffingSales #Staffing #Georgia Georgia Staffing Association TempWorks Software, Inc

For staffing firms, partnering with a funding provider is almost always more beneficial for your business than working with a bank for financing. 💡💸 See why: Working with a bank: ❌ Locked into a set contract ❌ Limited amount you can borrow ❌ Excess paperwork needed ❌ No staffing industry guidance ❌ Unnecessary focus on your credit history Working with Lone Oak: ✅ Flexible contract adjustable for your business goals ✅ No growth ceiling ✅ Easy application process ✅ Provides expert staffing guidance ✅ Focuses on the credit of your customers Want to learn more about how payroll funding works? Download our Ultimate Playbook for free (see comments). #Funding #Staffing #Payroll #InvoiceFactoring #StaffingIndustry

We're excited to share that Lone Oak, along with our sister company TempWorks, is the platinum sponsor for the Georgia Staffing Association! GSA brings Georgia staffing professionals together to network and learn about the latest trends in staffing. Check out some of their upcoming events, including the Staffing Sales event on July 17th, a virtual roundtable on July 24th, and the annual GSA Golf Tournament on August 12th. We look forward to collaborating! #Staffing #Funding #InvoiceFactoring #ProudPartner #StaffingIndustry

How do you know if a potential customer is credit worthy? Most often, banks are not involved in any credit decision for your business. This means they don’t conduct credit or background checks for your customers and can’t provide insight into current pay trends. But we do. Each time you look at adding new business, we look closely at your prospect’s financial data and credit history to assess risk and give you peace of mind. Reach out to learn more about how Lone Oak can help you secure your staffing firm’s financial future. #Staffing #Funding #CreditChecks #StaffingFinance

We never want to see a staffing firm forced to close their doors. Yet that’s what happens when businesses face undercapitalization.💸 (According to the U.S. Bureau of Labor and Statistics, 45% of start-ups fail within the first five years!) 👉 To prevent this, we decided to offer payroll funding back in 2008. When the Great Recession hit, we were able to support our clients during times of economic hardship, helping them weather the storm and set themselves up for success when the market turned around. Staffing firms need more than just capital to survive, though—let alone grow. You also need expert staffing services and a team behind you who cares. 💡We’ve created this funding guide to serve as a resource, whether you’re working to weather a tough time or ready to invest in future growth. (Grab your copy in the comments!) Need more info, or just want to talk to a real person? Our team is always willing to chat.

Whether you're concerned about the economy or looking to keep up with the most advanced technology, your tech stack is the first place you should be looking. It's the backbone of your business, impacting every corner of your operations. But how do you assess its effectiveness? When do you know it's time for an upgrade, and where do you start? Our friends at TempWorks Software, Inc created a free guide for Building & Evaluating Your Tech Stack. Grab your copy today: https://ow.ly/qI3k50RzAeK

One of the most important parts of starting a staffing firm is to first understand your cash flow position. How do you plan to make weekly or biweekly payroll while you wait for your customers to pay their invoices? You will likely pay your employees weekly or biweekly, but your customers won't need to pay their invoices for around 30-60 days. (Plus, sometimes they don't pay them on time!) The secret many staffing firms won't tell you is that they often use payroll funding, which allows them to take on new business and keep payroll moving. For more tips on everything you need to know about starting a staffing agency, be sure to download the full guide (link in comments!).

Payroll funding is creating growth opportunities for staffing firms (including many of your competitors!), even when they're faced with a tough market. Here's how: 👉 It brings them consistent, reliable cash flow. Funding advances cash to staffing firms, allowing them to make payroll today while waiting for clients to pay invoices. 👉 It expands their pool of clients. With the benefit of consistent cash flow for their payroll, staffing firms don't need to shy away from slow-paying debtors or clients with longer payment terms. This helps them say yes to more business and grow their client pool significantly. 👉 They spend more time on growth strategy and less on back office. Staffing firms who partner with us can avoid time-consuming back office activities such as invoice processing, payroll processing, accounts receivables management, tax management, and new hire reporting. With less time spent on the back end, they have more opportunities to invest in their relationships and build their growth strategy. These are just a few of the ways staffing firms are using payroll funding to grow. Reach out to us to learn how you can join them and stay competitive. #StaffingIndustry #Staffing #Funding #Payroll

With funding, there's a big difference between getting a loan from a bank and partnering with a funding provider. For example: Banks also offer lower advance rates with a ceiling for funding, which limits your potential for growth. Funding providers often offer higher advance rates (at Lone Oak, it's up to 97%) with flexible opportunities for additional funding as your business grows. See how this plays out with two companies looking for funding during an uncertain economy. (click to expand) #PayrollFunding #InvoiceFactoring #Staffing #StaffingIndustry