Payroll Loan

A payroll loan can be considered any loan provided to a business in order to cover payroll. Especially within the first couple years of a new business, business owners may find that their receivables don’t cover their payroll expense for a particular pay period. Some business owners use a cash advance on their business or personal credit card as a payroll loan, request a payroll loan from their financial institution or quickly raise money from family and friends to cover payroll expenses.