Congregate Care Financial Services
Congregate Care
From $200,000 to $3,000,000 (below $200,000 - click)
Congregate care factoring and financing. Due to unpaid invoices, negative cash flow is often an issue for congregate-care facilities. Waiting for payments from insurance companies, Medicaid, Medicare, and other third parties can certainly cause cash flow to stall, affecting business operations in a significant way.
However, utilizing factoring for your unpaid commercial invoices or securing funding for your Medicaid, Medicare, and insurance claims can effectively address cash flow issues, allowing your congregate care facility to operate with greater confidence.
GET FUNDING FOR YOUR MEDICAL BILLINGS:
- Medicaid and Medicare
- Blue Cross and Blue Shield
- PPOs and HMOs
- Worker's Compensation Carriers
- insurance Companies
- Commercial Customers
WE CAN FUND:
- Congregate Care
- Assisted Living Facilities
- Nursing Homes
- Seniors Housing
- Other Healthcare Providers
SIMPLE PROCESS
Typically, we start with a phone call to learn about the specific funding needs of your congregate care business and answer your questions.
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 assist facilities with certain financial challenges or reorganize 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 Receivable 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-Aged AR Reports with Detailed Payer Information by Insurance Provider
- Accounts Payable Aging Summary
- Owner(s) Personal Financial Statement
- Proof of Ownership
Need The Money Now?
If you require cash quickly for payroll, operational expenses, or any other business needs, a revenue-based loan could be a suitable solution, with funding in as little as 2 to 3 days. To learn more, click here.