IGF launches Payroll Service

IGF launches Payroll Service

Independent Growth Finance, the UK’s leading independent commercial finance provider, today announces the launch of its new payroll service, aimed specifically at start-ups and SMEs with a turnover up to £10m.

Clients can choose from payroll management to an invoice production and collections service. The lender offers a full advance of up to 90% of the gross value of invoices prior to collection with the option of bad debt cover.

IGF commercial director, Mark O’Neil said brokers would be a key route for developing the business. “We continue to rely on the ability of our introducer contacts to speak directly to our intended client base and bring those clients to us,” he said.

The cost of IGF Payroll is dependent upon the service supplied but typically, prices range from £2 to £4 per item processed. The service is run by gualified payroll experts who understand the complexities of new starters, leavers and supplementary payments.

O’Neil concludes:
“IGF’s Payroll Finance Service not only provides a business with a completely outsourced payroll service but can also include financing the payroll staff costs and also any invoices that may be generated from the payroll (contractors etc).

“With IGF’s Payroll Finance Service we take complete control of the payroll, including the processing and calculation of net to gross pay (in accordance with the latest legislation), printing and despatch of payslips and reports as well as the transmissions of BACS files to the employee’s bank accounts. This is all controlled by professional and qualified payroll experts that provide our clients with the highest level of support utilising one of the leading edge payroll system available in today’s market.

“As part of the service, IGF also offer financial services and options to cover and control the staff costs generated from the payroll along with invoices that may have also been generated, ensuring that our clients benefit from dealing with one supplier that has an excellent understanding of their business requirements and can offer the highest level of support for their business going forward.”