Factoring is the Solution for Nursing Programs ProvidersThe demand for nursing programs will not really go down in the near future, which makes it a pretty profitable business if ever you decide to establish one. However, dealing with the costs of operation is not a joke, and would require a significant amount of cash outlay. For most newbies in the business, securing a bank loan would usually be the default choice as far as expanded capital is concerned. Unfortunately, not everyone would qualify for such a loan, not to mention that when some do, it usually becomes too big of a burden once the interest rates are factored in. As such, most of them turn to factoring for help.
What Is Invoice Factoring?
Invoice factoring has been present in the financial industry for quite a while and has been a popular choice by small and big businesses alike because of the convenience factor which you would not really find in dealing with a traditional bank loan. What invoice factoring basically involves is the purchase of your invoices by the invoice factoring agency. As such, you get the increase cash inflow you need by banking on your unpaid invoices. It usually takes a lot of time, some lasting weeks and others even months, for invoices to turn into cash. This has proven to be a burden for most companies which are in need of a quick fix as far as expenses are concerned. This is where invoice factoring comes in. Given how the factoring agency relies on the reputation of your client, you would not need the typical requirements required in a bank loan.
Invoice Factoring and Nursing Programs
Maintaining a nursing program does not only require hard work as you would be needing a lot of capital in order to cover the relevant costs. Aside from the securing the equipment necessary to make sure that your program remains relevant and up to date you would also have to shoulder the cost of maintenance for such equipment. In addition, you would also have to purchase supplies regularly for your students to use for hands-on training and the like. While a bank loan would take days or even weeks to process, invoice factoring only requires a couple of days. In terms of documents, all you have to turn in are the invoices names after your company. After that, you get your money, with a minimal deduction charged by the agency as a fee for their services.
How NeeBo Capital Could Help
NeeBo Capital has been dealing with nursing programs factoring for many years now and is totally aware of the increased availability of capital necessary to maintain such a business. What sets NeeBo Capital apart from the rest of the competition would be its low interest rates which start at just around 1.5% for flexible terms starting at 30 days. The amount would depend on the face value of your invoice, but ranges from USD5k to USD1 million, depending on what you need.
Why Choose Us?
Rates at 0.59% - 1.5% for 30 days
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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