Factoring Medical Staffing Receivables

Factoring is much more than cash in a crisis. It's a WIN-WIN.

When you partner with PRN Funding you will be able to maintain a balanced and healthy cash flow, while building credit. And because your invoices can now be managed by PRN's professional collections service department, your customers will view your company as a healthcare vendor of high consequence.

Factoring medical staffing receivables is a great long or short-term solution for small and mid-sized healthcare staffing businesses. In addition to funding, PRN can help build credibility with your clients and represent you as a well-established firm.

CONSIDER THE BENEFITS OF FACTORING MEDICAL STAFFING RECEIVABLES:

Eliminate Bad Debt:
PRN Funding's non-recourse program assumes the risk of bad debt, eliminating any expense from your income statement.

Offer Credit Terms to Your Customers:
You can offer credit terms to your customers to increase your sales without negatively impacting your cash flow.

Unlimited Capital:
Factoring is the only source of financing that grows with your sales. As sales increase, more money is immediately available.

Leverage Off Your Customers' Credit:
You don�t need perfect credit or a long-term operating history for factoring, just creditworthy customers.

Build and Improve Your Company's Credit:
Use your healthy cash flow to make consistent on-time payments to your creditors.

Factoring 101:

Factoring is the conversion of accounts receivable into cash by selling outstanding invoices to a factor, such as PRN Funding. A viable option for companies in the early stages of business development and /or during rapid growth, factoring is a financial solution that gives medical staffing companies immediate cash to manage operations more efficiently. Here are some additional key concepts about this financing alternative.

Accounts Receivable Factoring is:

A way to fill the gap between when your medical staffing company delivers a product or service and when your customer pays. PRN Funding can turn weeks or months into hours or days.

Based on your customer's credit history, not yours. If your staffing company has products or services that it offers to a creditworthy customer, then your business is a good candidate for factoring.

A simple, fast method to sustain your "business as usual" relationship with your customers. Your company can continue to provide goods or services to your customers with a set-term payment; but with factoring, you no longer have to wait to be paid. By working with PRN Funding, your company can easily obtain cash advances of 80% of the invoiced amount. Cash can be obtained within hours and as often as needed.

One of the oldest methods of providing working capital. Dating back 4,000 years, factoring has long been used as a feasible and easy way for businesses to obtain cash flow in order to cover expenses while experiencing growth.

A chance to obtain cash without providing personal collateral or increasing interest expense. Invoice factoring is not a loan and does not "muddy up" your balance sheet. You do not accrue interest or penalties. The factoring fee is clear and objective; it is based on the size of the invoice, the length of time it takes to collect the payment, and the creditworthiness of your customers.

An opportunity to build your credit: With adequate cash flow, you can use money from factoring to clean up your debts as well as pay overhead, salaries and invoices. This will improve your credit history and make it easier to obtain credit from vendors and other financial institutions.

By working with PRN Funding, your cash flow problems can be solved. This will give your healthcare staffing company both the time and money to focus on critical success factors -- operations, sales and growth.

NEXT: Find out if invoice factoring with PRN Funding is right for your company