Paychex Launches Funding Solutions to Provide Small Businesses Quick Access to Capital
Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, employee benefits, insurance services, and HR, has introduced Paychex Funding Solutions, designed to offer small- and mid-sized businesses fast access to capital when needed.
The service, which includes Paychex companies Advance Partners and Alterna Capital Solutions, enables businesses to receive upfront capital based on their assets through invoice factoring. This funding can be used for payroll, vendor payments, and business growth, and is available to any business-to-business organization—no Paychex payroll client status required.
“Lack of capital is the leading cause of small business closures, and meeting payroll obligations is often the most significant challenge, regardless of the economy,” said Liz Roaldsen, Paychex senior vice president of operations and customer experience. “Having quick access to capital when it’s needed can be the difference between staying open or closing shop.”
In contrast to traditional bank loans, which often come with lengthy approval processes and stringent conditions, Paychex Funding Solutions offers more flexibility and a faster approval process. Funding decisions are partially based on the creditworthiness of a business’s customers, allowing Paychex to assist companies that might not qualify for traditional loans.
“Paychex has identified an opportunity to help businesses manage cash flow without relying on a bank,” said Jeremy Bilsky, general manager of Paychex Funding Solutions. “This service reflects our ongoing commitment to supporting the success of small businesses and our continuous innovation in this space.”
Paychex Funding Solutions is designed with small businesses in mind, offering:
- One-on-one consultations to assess financial needs and goals
- Ongoing access to funding specialists for tailored solutions
- Rapid funding to ensure business continuity
- A full-service support team to guide and assist
This new offering is the latest addition to Paychex’s suite of solutions aimed at supporting small businesses’ cash flow needs.
About Paychex
Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves over 745,000 customers in the U.S. and Europe and pays one out of every 12 American private sector employees. The more than 16,000 people at Paychex are committed to helping businesses succeed and building thriving communities where they work and live.
