Factoring Seniors Housing Facilities
From $100,000 to $3,000,000 (below $100,000 - click)
Does your senior housing facility experience negative cash flow from time to time due to unpaid claims and invoices?
Medicaid, Medicare, insurance companies, commercial customers, and other third parties can certainly cause cash flow problems for your senior housing facility if you wait for their payments. However, funding your Medicaid, Medicare, and insurance claims and factoring your commercial receivables can be the solution to cash flow problems moving forward.
IN ADDITION TO SENIOR HOUSING, WE WORK WITH:
- Congregate Care
- Assisted Living Facilities
- Nursing Homes
- Other Healthcare Providers
SIMPLE PROCESS
Typically we begin with a phone call to understand your specific situation and funding requirements and to answer any questions you may have.
The list of documents required to prepare a receivables funding contract includes:
- Our application is signed by the owner(s)
- Current Accounts Receivable and Payables reports
- List of insurance companies, government payors
- Most recent profit and loss statement and balance sheet
ADVANTAGES
- Clients will be dealing with a direct source of private and institutional funds
- Competitive rates
- Advances on receivables as high as 80% on eligible ARs
- Simple - uncomplicated qualifying process
- Flexible terms. Financing can be structured to fit the business funding requirements
- Lockbox Account
ACCOMMODATING
- We can even facilities with certain financial challenges or reorganizing in bankruptcy
- Services and solutions can easily be tailored to your specific needs
- Funding is designed to be flexible and grow with the business
- We can help bridge the financial gaps in operating business plans
SUBMISSION PACKAGE
- Signed Application
- Accounts Receivables Report
- 6 Months' Bank Statements
UNDERWRITING DOCUMENTS
- 2 Years of Business Financials
- Profit & Loss and Balance Sheet
- 2 Years of Business Tax Returns
- Copy of Most Recent 941 Filing
- Full AR Reports with Detailed Payer Information by Insurance Provider
- Accounts Payable Aging Summary
- Owner(s) Personal Financial Statement
- Proof of Ownership
HealthcareFactoring is part of a network of strategic partners specializing in funding solutions for medical professionals nationwide with financial services that are tailored specifically for the healthcare industry.
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