Medical Services – Factoring Is Your Way Out
There is always a need for medical services because people need to stay healthy. This industry has enjoyed a steady rise simply because there is a constant rise in the number of people getting sick. The kinds of diseases that people are now plagued with are getting more and more life-threatening.
But along with the high demand, companies involved in the medical profession are also experiencing cash flow issues. This is just the natural result of the way their bills and invoices are paid. Generally, their invoices are paid by insurance companies specializing in healthcare. And this takes time.
Payment Delay Adverse Effects
If your medical related business can’t get your payments in time, you are bound to have financial issues. You may not be able to pay the salaries of your staff in time. Or you may ask your suppliers to wait for their payments until your check is released by the insurance company. Meanwhile, you can’t expand your business even if there are still people and places that crave for your medical services.
You don’t have to go to a bank to apply for an emergency loan. There is a way in which you can solve your problem instantly without so much trouble on your part. Factoring companies are ready to give their financial assistance at very attractive financial arrangements.
If you will seek the help of a factoring company, they will buy your medical bills or invoices at an agreed discount. Or you may choose to pay interest charges which are quite low compared to what the banks are charging.
Get Cash Fast
The factoring company will release the amount that you need in a couple of days. With a bank, it will usually take them up to 90 days to release an emergency loan. That is due to the circuitous documentary requirements, and the credit checking that they normally do to loan applicants.
No Need for Credit Checking
You will not be subjected by the factoring company to any credit checking. There is no need for them to do that since they already have your medical invoices. They know that these bills already represent cash – although still to be collected yet.
The factoring company will not require you to support your need for cash with collateral. To them, your medical bills and invoices represent cash and since they are already in their hands, they no longer need support for the financial assistance they will extend to you.
Another advantage of a factoring company is that you get your money even if your invoices and bills are not yet paid. In fact, there are factoring companies who will facilitate the collection of your bills and invoices.
If you own a company that provides medical services, and you are currently experiencing problems with your cash flow, you can seek the help of a factoring company such as NeeBo Capital. They don’t require monthly minimums and they have very flexible arrangements. Their interest charges are the lowest starting at 0.59% only.
Why Choose Us?
Rates at 0.59% - 1.5% for 30 days
Quick Link to Financial Resources:
| Purchase Order Financing | Accounts Receivable Financing | Asset Based Lending Options |
General Articles about Accounts Receivable Financing and Factoring:
» 08/01/2012 Debt Financing or Off Balance Sheet Financing?
» 11/30/2012 Utilizing Factoring as a Alternative to Traditional bank Credit
» 07/22/2012 Increase Your Business Lines Of Credit By Factoring Accounts Receivables
» 09/15/2011 What to know when selecting a Factoring Company
