Start, Build and Scale Your Recruitment Business With SSG Recruitment Partnerships
What They Do
SSG exists to create recruitment entrepreneurs.
They will partner with you to start your own recruitment business, support your back-office, provide strategic growth advice and the necessary funding to get your business off the ground and scaling. All of this allows you to focus on what you do best: recruiting and billing.
Their revenue model enables you to do all of this with no upfront cost. Instead, there is a revenue share arrangement in place meaning that they only get paid, when you start billing. This causes true strategic alignment.
Why Do SSG Use StepEx?
In the vast majority of investment models, founders have to invest their own money and also sign a personal guarantee to cover losses that an investor might incur if the investment fails.
In this rare scenario, the founder loses their original investment and, if they do not have savings or assets to cover the investor’s losses it can result in court proceedings and bankruptcy.
For these reasons, taking investment this has significant emotional, practical and financial downsides to both the founder and investor.
By partnering with StepEx, SSG solves this pain point for all parties. If an investment fails or the Founder wants to return to employment, a Future Earnings Agreement allows them to cover SSG’s costs by contributing a percentage of their future earnings over an affordable threshold. It means the founder is able to avoid potential court proceedings. It also allows SSG to invest, without the founder investing their own money, safe in the knowledge that they can recover their investment and loss of income.
Key Features of Future Earnings Agreements (FEAs)
Future Earnings Agreements: With this agreement, you commit
to repaying a fixed amount of SSG’s investment in you and your business but
only when your gross annual income is at least £30,000. The FEA is only commenced
if you cease to be a director of a company which SSG Recruitment Partnerships
is a shareholder.
Your total repayment amount is directly linked to your
future income, which means you will pay off your agreement quicker if you earn
more.
Please click here for video on FEAs.
Details of Your Future Earnings Agreements
Repayments are set to start post your programme with SSG and once you start earning at least £30,000 and only if you do not become a director of a company in which SSG is a shareholder. In this case, you will then repay a small percentage of your income for a fixed period of time. The maximum amount you might ever repay is limited to the programme cost.
Offer:
£250 upfront + 15% of your gross income for 120 months when earning at least £30,000 gross income per annum.
How to Apply for Finance
1. Apply for your programme.
2. Once accepted onto SSG’s programme complete the StepEx Application Process using the referral code provided by SSG Partnerships.
3. Complete the Identity Verification, Credit Check, and Affordability Checks when prompted by StepEx.
4. If approved, complete the upfront payment.
5. Read the terms of your financing and sign your financing agreement with StepEx.
6. Start your programme.
Eligibility Criteria
Eligibility for StepEx financing is defined by both StepEx and the education provider.
To be eligible for finance you must:
• Be aged over 18
• Have been offered a place on your programme
• Not be on any sanctions or watchlists
• Be likely to be able to afford repayments
• Not have a history of non-repayment of your financial obligations
• Be suitable for this type of product
• Be a UK / EU citizen
Charges
In addition to the repayment of your finance agreement the following charges apply:
1. Borrower Application Fee: £20
2. Borrower Upfront Payment: £250
3. Monthly Platform Fee while your agreement is active: £1
4. Default charge: If you fail to make the required payments for 90 days we reserve the right to terminate your agreement in which case all outstanding repayments become due. We then reserve the right to pass the debt to a debt collector who will charge you for their costs of collecting the debt from you.
Conditions
The full terms and conditions of your financing agreement are set out in your credit agreement.
