Umbrella Funding
Umbrellas paid in full straight away. Agencies given up to 90 days to pay.
Full Payment for Umbrellas
What Umbrella Funding Does
Every week, recruitment agencies pay umbrella companies so that contractors are paid on time. When an agency's own clients are slow to pay, or its existing finance is fully used, that weekly bill can put pressure on everyone involved.
Umbrella funding takes that pressure away. The umbrella is paid the full approved invoice straight away, and the agency has up to 90 days to settle it.
It works one invoice at a time, only when it is needed, and is designed to work alongside the agency's existing factoring rather than replace it.
GFTM uses the latest payment data and combines this with live insurance data to provide an instant credit limit applicable to an agency.
A 10% deposit is taken at the time of the umbrella invoice being issued, and this payment is deemed acceptance of the undelrying invoice and payment obligation.
Helping Umbrellas support their Agencies
GFTM helps selected agencies when cash flow is tight, without using agency working capital to fund payroll.
The agency can agree up to 90 days to repay GFTM, subject to approved terms and available credit, and may settle sooner if its cash flow improves.
GFTM monitors collection dates and manages reminders and follow-up directly with the recruitment agency.
GFTM Handles the Payments
Once a transaction is funded, GFTM maintains the payment record, tracks the agency balance and issues reminders when needed. The umbrella carryies on providing payroll services rather than managing an extended credit period on that invoice.
Full payment
The recruitment agency bears the normal cost of the finance. The umbrella company is not charged simply for making the service available, although the supplier agreement will cover invoice warranties and cooperation obligations.
The umbrella stays in control of your agency relationships while GFTM manages the funding and collections. Offer more than payroll and start with one agency and one new invoice.