October 23, 2023

By Terry Keating


In May of 2022, when the author became CEO of Access Capital, the Company already had a long history of being a leading non-bank lender to the staffing industry. In this article, written with the help of Raphael Torres, head of business development, and Jessica Sanchez, director of marketing, Terry Keating will share some thoughts about the industry that he has learned through his journey over the past 18 months.

The staffing industry has many dimensions/layers, and I certainly cannot capture every permutation here. These many aspects present opportunities and challenges for lenders. The first challenge is simply understanding the matrix of segments and business models within the staffing ecosystem. And just about when you think you’ve figured out all the
permutations, new ones come on the scene, and others become obsolete. Then there are acronyms and terminology unique to this sector, and we’ll try to help with some of that here too.

Next, industry participants must understand the many legal, regulatory and tax considerations. Some on the federal level, but many more on the state and sometimes local level. Again, ever-changing, there are also the dynamics of the labor markets, demand, and supply. Ever-shifting business demand, economic conditions, politics, global events, management philosophies at the customers, and much more contribute to an often-bewildering landscape.

If that isn’t enough, the pandemic and post-pandemic conditions and reactions of both employers and employees further blur historical trends that one might look to in an effort to understand this business. So, this isn’t easy or for the faint of heart.

Click here for the full article.

About the Author

TerryKeating_150
Terry Keating is CEO of Access Capital, a New York-based commercial finance firm and the nation’s leading independent lender to the staffing industry. He has over 40 years of leadership and senior management experience in the financial services industry, including 20 years in commercial banking and 10+ years in consulting and
investment banking.

Keating is active in various industry associations. He is also an active member of the Secured Finance Network, including serving as a member of its Industry Data Committee, and its DEI Committee, as well as participating in the Mentoring Program. Additionally, he is active in the New York Institute of Credit, International Factoring Association, Association for Corporate Growth, Alliance of Merger & Acquisition Advisors, and Turnaround Management Association. Keating can be reached at tkeating@accesscapital.com.