Industries we work with
Running a labour hire company is not an easy task at the best of times. So the last thing you need is strained cash flow impacting your business’s growth.
One of the biggest issues in the labour hire industry is longer payment terms. This might occur when a client takes months to pay an invoice while your contractors need to be paid on a weekly or fortnightly basis and equipment payments are required for an upcoming job. For many labour hire companies, this means having to consider labour hire finance options.
Existing finance options for labour hire companies
With tighter lending restrictions and market volatility, sourcing reliable and affordable labour hire finance has become increasingly difficult. Not to mention the added time and stress business owners must endure to find a suitable solution.
In the past, labour hire companies may have had to resort to financing alternatives, like business loans, credit cards, labour hire debtor financing, or labour hire bridging finance. While some of these options can be accessed and provide a short-term fix, they are often risky and expensive — and at the end of the day, they’re just placing the business further into debt.
For example, business loans and credit cards usually come with high-interest rates and exorbitant applications and ongoing fees. This can cause a massive financial strain on businesses, regardless of size. Not only that, but depending on the loan or alternative financing option you choose, you may be asked to use your business or personal assets as collateral — a massive stress for any business owner.
Due to tighter lending restrictions, you also risk being rejected when applying for credit products like small business loans or credit cards.
Lenders have these restrictions in place to ensure only specific types of businesses are approved, safeguarding their repayments but damaging your business's credit score in the process.
So with limited, risk-free options available, how can labour hire businesses stay afloat during periods of payment uncertainty? Meet Marmalade.
Marmalade — the sustainable answer to labour hire finance
Long payment terms are the biggest issue many labour hire businesses face daily. So wouldn’t it be great if you could get paid for your invoices as soon as you send them? With Marmalade, now you can.
Marmalade is a world-first in invoice payments, offering an innovative solution to an ongoing problem. Our platform allows labour hire companies to receive early payment for any eligible invoices and get paid almost instantly. No more waiting around for clients to pay invoices — with Marmalade, you can have the funds in your business account within 24 hours.
How to get started with Marmalade
Here's a quick walkthrough of how Marmalade works:
Sign up for a free account with Marmalade
Issue invoices with Marmalade Virtual Bank Account (VBA) details
Select invoices you would like to have paid early
Pay a one-time fee of between 3-5.5% per invoice
Get your money within one business day
Marmalade is the only payment platform designed specifically for invoices, which means you can say goodbye to typical pain points that come with sourcing alternative finance. Some of the features you can look forward to when using Marmalade are:
- Minimal paperwork — With Marmalade, you can skip filling out time-consuming online forms and get paid sooner.
- No security — Unlike cash loans or other credit financing options, we won’t ask you to provide collateral to use our service.
- No credit risk — Marmalade absorbs all credit risk with non-paying clients, giving you the freedom to grow your business without worry. Unlike a lender, we won’t chase you for repayments.
- Transparency — From no lock-in contracts to zero hidden fees or interest, Marmalade is a 100% transparent business. There are no catches, hidden gimmicks or nasty surprises.
With Marmalade on your side, you’ll be able to keep up with increasing overhead costs and better manage longer payment terms. Our platform gives you total control over your invoices, plus you’ll always be kept informed about the status of your upcoming and processed payments.
Marmalade was created to help propel businesses — we think there’s nothing worse than a brimming business being held back by limited cash flow. Find out how Marmalade can transform the way you manage invoices at your labour hire company by getting in touch with us today.