Lloyds TSB Commercial Finance expands its CashFriday product
Building upon its expertise in providing funding and payroll services to the recruitment industry, Lloyds TSB Commercial Finance is now expanding its CashFriday product to the cleaning and security sectors.
CashFriday is designed for all sizes of companies and can provide invaluable support to both new and established businesses. Lloyds TSB Commercial Finance provides its clients with comprehensive outsourced payroll management and funding services, therefore ensuring that workers will always be paid on time, a vital tool for industries such as cleaning and security, as wages are often the biggest overhead.
This type of facility offers companies the financial flexibility to know that staff will be paid on time, whilst providing freedom to focus on growing the business.
Alison Raw, Senior Manager at Lloyds TSB Commercial Finance, commented: “The cleaning and security industries so often struggle with the problem of how to pay workers, putting a strain on the cashflow of firms. That’s exactly why we’re introducing our funding and payroll services to these two sectors, ensuring workers get paid on time, freeing up managers so they can concentrate on running the business. This type of facility works incredibly well within the recruitment industry which also has a lot of temporary workers, and it’s great that we’re now able to extend this service to cleaning and security firms.”
Elements of the service include:
• 100% funding of the workers’ weekly wages bill - paid direct to the workers
• 100% profit paid weekly
• Payroll processing of workers’ wages, dealing with all HMRC and other statutory issues
• Credit control and credit insurance
The combination of 100% funding of the wages bill and payroll processing allows
businesses to grow whilst reducing the administrative burden