Fund My Contractor

Over the years, the team at Total Back Office Solutions Ltd (TBOS for short) has aided and advised in the set up and running of numerous recruitment agencies. Over that time, an alarming trend emerged - there were a large number of recruiters and agencies who were having trouble funding their contractors. Because of how payment paradigms in the contract sector tend to work, placing a contractor can have a significant impact on an agency's cash flow.

Due to the conventional means of arranging invoice finance becoming increasingly strict over the last few years, many agencies had become apprehensive of them. They often involved signing long contracts with large monthly minimums and intrusive personal credit guarantees. Often adverse credit or lack of assets on a director's record would be enough to halt any agreement, and these factors combined have led to agencies ignoring the lucrative contract market and concentrating on safer, lower-return permanent placements.