Factoring – Emergency Help for Medical Staffing AgentsThe value of the services provided by medical staffing agents is not easily seen. People will easily notice the useful work done by medical workers. But a company that qualifies and recruits nurses, doctors, physical therapists and other medical workers plays a major role in a country’s healthcare program. Without them, we would be hard put in finding qualified medical workers that will provide competent and quality healthcare service.
As in all kinds of businesses, these companies also face financial troubles from time to time. A major reason for this is that the insurance companies which pay their patients’ bills are slow to pay. As this practice goes on, it leaves the staffing company in a financial bind. They are not able to meet their financial obligations such as paying their rent, utility bills, and their employees’ salaries.
Ready Help is Available
If you are one of the medical staffing agents that are experiencing cash flow issues, you can remedy your situation by seeking the help of a factoring company. It is your best option considering the financial straits that you are now in.
Basically, a factoring company will buy the invoices that you have issued to your customers for a certain agreed discount. The amount that you will be given will depend on the amount indicate in the invoices. To a factoring company, your invoices represents real money although not yet in the can.
Factoring is Better than Going to A Bank
There are many reasons why going to a factoring company is much better than going to a bank.
- • Quick Release of Cash
A factoring company can give you cash in just a couple of days. They will not subject you to a long process of documentation and legal requirements. Banks will require you to fill up complicated loan applications and have your credit background checked. Loan processing will also depend on the loan amount you are applying for. It will take them somewhere between 30 to 90 days to approve your loan.
- • No Credit Checking
A factoring company will not subject you to a credit check. They are not interested in your credit rating. Therefore, it does not matter whether your credit history is bad and whether you have absconded in your financial obligations before.
- • Collateral Is Not Required
The factoring company considers your invoices or bills issued to insurance companies as real money although not yet collected. As those invoices are already in their hands, they no longer require you to cover their financial assistance with collateral.
Factoring companies can also be helpful to new staffing companies which need plenty of cash due to the fast inflow of business. They need not put a brake on their expansion just because they are short of cash.
But when it comes to medical staffing agents which are experiencing cash flow problems because of unpaid invoices, their best course is through a staffing company like NeeBo Capital. They can give you the money you need at the lowest rate of interest which starts at 0.59% only. There are no monthly minimums and their arrangements are very flexible.
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?
» 09/15/2011 What to know when selecting a Factoring Company