Helping Dreams Come True
Chastity Williams has a big heart, and she had a big dream. As a long term care nurse she had many encounters with hospice nursing. In 2007, there was a tremendous nursing shortage and hospice was a very misunderstood area of health care. Chastity knew she could help make a difference in people’s lives and wanted to start her own hospice temporary staffing agency – Nursing by Demand.
“Like everyone else, I had an idea and thought I’d open a business. When I started I was all heart and had big ideas for the nursing part, but I didn’t know as much about the business part.” She felt uncertainty as many entrepreneurs do, and wondered how she’d be able to raise payroll.
“Chastity had a couple clients lined up before she started, but as in many new business situations, they didn’t pay quite fast enough. So she didn’t have the cash on hand to meet payroll. That’s a lot of pressure for a new business,” says Ryan Elliott, her Account Manager at PRN.
A business loan was out of the question – Chastity was adamant that she didn’t want to start a business with debt. She did some research and came across PRN Funding’s web site as well as some others, and looked into several.
“What made the difference for me was that PRN was very personable and extra helpful. Ryan Elliott and Phil Cohen at PRN really took me under their wing and not only helped me with the funding, but gave me a lot of business guidance too. They really carried me through the process. When I call I don’t get the feeling that I’m just another customer, I feel like I’m their only customer.”
The Right Factoring Company for Her Business
Since it can take her clients up to 60 days to pay invoices, getting started with factoring enabled her to meet weekly payroll. “I didn’t think my employees would wait 60 days to be paid,” she says.
PRN purchased her invoices, advancing Nursing by Demand a weekly percentage, based on her weekly billings. With that she was able to meet payroll, hire more temps, and grow.
PRN’s understanding of the medical industry was instrumental in helping her business get started. In fact, PRN introduced her to a new client, a large hospice organization, which today is one of her largest clients.
“I knew this organization had a major presence in her market, and saw an opportunity for Chastity. We thought it would be a great fit. I’m happy it turned into a real success,” Ryan says.
“Ryan was able to tell me a little bit about how that company liked things done, so that definitely gave me a heads up,” Chastity says.
Working with PRN gave Chastity a comfort level she wouldn’t have had with a general factoring company that covered a broad spectrum of different industries, Ryan says. “We know how to work with health care institutions really well because that’s all we do. We’re good at getting in touch with the right people and getting bills paid.”
Chastity credits PRN for giving her a lot more confidence in her business skills.
“I knew if I was ever unsure, I could ask PRN for advice on pretty much anything, even the way to bill to make sure we get paid in a timely fashion. They know the ins and outs of a lot of the clients I work with, because they work with the same people for other clients. My relationship with Ryan is great, I can call him and not ever feel like I’m bothering him.”
Taking on New Growth Opportunities
Chastity started Nursing by Demand in 2007 working out of her home with one employee. She now has 219 employees and three offices in Dayton, Cincinnati and Columbus, Ohio.
“She’s built the business very nicely, doing more and more work for her clients. She started off billing a few thousand a month, now she’s up to an average of $25,000 to $27,000 every week. I have no reason to believe she can’t sustain it and grow even more,” Ryan says.
With PRN taking some of the billing worry off her shoulders, Chastity has time to go on site visits and see patients in a supervisory capacity. “That’s where my heart is, without a doubt, with the patients. I’m glad I can still get out to see them.”
“I can’t stress enough what a wonderful company they are. I firmly believe I would not be in business today if not for PRN Funding. Even when I don’t have to use them anymore, I don’t know that I’d want to leave them.”