Small business owners are expected to cover a wide range of expenses to keep their business afloat. One of the most consistent expenses is payroll. Whether your employees are full-time, part-time, or contract, you're expected to consistently pay for their work.What Is a Payroll Loan and How Does It Work
A payroll loan is a type of funding you can receive that helps you pay your employees. Since payrolls are considered a general working capital expense, credit and invoice financing lines are used as payroll loans.
Payroll loans for small businesses are short-term funds to pay your employees. Online, alternative lenders typically issue employee payroll loans to make sure you can pay your employees on time and in full.Different Types of Payroll Loans
There are several benefits of payroll loans. These…