Nurse Staffing Accounts Receivable Factoring Overview

As a nurse staffing entrepreneur, you have many financing options to choose from--From SBA Loans to small business credit cards, the possibilities of securing funding for your business are limitless. The downside to a lot of those funding options is that they generate additional debt, which is difficult to carry if you own a brand new business or your agency us going through a rapid growth phase.

Other the plus side, nurse staffing accounts receivable factoring is an excellent financing option for nurse staffing entrepreneurs because it creates a more positive cash flow, without creating additional debt.

When your nurse staffing agency bills clients, you know that medical providers (i.e. hospitals, nursing homes, medical clinics, etc.) can take months to compensate you for your staff's time. When you use nurse staffing accounts receivable factoring to secure funding for your company, you can:

  • Rest assured that you can pay bills and employees on time.
  • Have the confidence to make the necessary moves toward expansion.
What Is Nurse Staffing Accounts Receivable Factoring?

In nurse staffing accounts receivable factoring, outstanding invoices are converted into cash through a ‘factor' for a discount. This means that instead of waiting for your clients to pay you for your staffing services, you will be able to use the money your workers have already earned right away.

Most factors offer nurse staffing non-recourse factoring: this allows a factor to be held responsible for unpaid invoices if the staffing agency goes out of business or declares bankruptcy during the time in which the owner's invoice was factored. Non-recourse factoring does not cover:

  • Very late payments where there is no bankruptcy.
  • Disputes over invoices.
  • General collections issues.
With accounts receivable factoring, you won't hesitate to accept large staffing requests due to lack of funding.

Who Can Use Nurse Staffing Accounts Receivable Factoring?

Even well-managed nurse staffing agencies encounter cash flow issues. Selling accounts receivables for fast cash is a great option for many types of nurse staffing agencies, both large and small. Your credit rating is not a major factor in the application process.

Factoring firms that specialize in nurse staffing account receivable fatoring have ample experience working with the healthcare services industry - specifically the financial challenges faced by those who place nurses in:

  • Hospitals
  • Nursing homes
  • Medical clinics
  • Long-term care facilities
Nurse staffing account receivable factoring companies understands that you invest a lot of time and effort recruiting and screening the right nurses for your staffing agency. Managing your finances is an equally important part of a successful agency. A nurse staffing account receivable factoring company works hard to outline terms that work well with your company's financial needs.

What are the Benefits of Nurse Staffing Accounts Receivable Factoring?

The account managers at PRN Funding are familiar with terminology and processes specific to the nurse staffing industry, so that the process will go smoothly for you. Some additional benefits include:

  • An immediate dramatic improvement in cash flow
  • The ability to meet payroll and taxes on time
  • You can hire new nurses, expand your business, and go in the direction you choose
  • Avoid taking action based on a lack of funds
  • Funds will be transferred to you within hours of verifying your accounts receivables
  • Nurse staffing agencies have the freedom to factor accounts receivables for the time period of their choosing
As you can see, nurse staffing accounts receivable factoring is a great way for a new or experience business owner to maintain a positive cash flow, regardless of what stage his/her business is in.

Author:.

PRN Funding, LLC is an extraordinarily focused niche player in the healthcare invoice funding market place. Through a process known as factoring, PRN Funding provides business owners with the financial resources needed to grow and effectively compete in the industry. With no minimums or fixed terms, PRN Funding (www.prnfunding.com) provides healthcare companies with flexible and immediate access to capital.

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