Laboratory Financing
Laboratories
Factoring and financing options are available for various types of laboratories, such as clinical test laboratories, diagnostic facilities, hospitals, and independent labs.
These financial solutions help ensure a steady cash flow, regardless of delays in payments from private insurance invoices and government payer claims, which can take weeks or even months to process.
STRONG CASH FLOW
Payment delays can significantly impact the cash flow of laboratories, making it essential to have a factoring facility or a receivables line of credit. This is crucial for maintaining a strong cash flow and ensuring uninterrupted operations.
IDEAL FINANCIAL PARTNER
Healthcare lenders can be the perfect long-term funding partner, unlike banks and other traditional lenders that generally do not finance insurance or government receivables. This partnership is essential for maintaining smooth operations and securing dependable funding for continuous growth.
THE PROCESS IS SIMPLE
We typically schedule a call to discuss your funding needs and answer any questions you may have.
To prepare a receivables funding proposal, we need the following initial documents:
- A signed application from the owner(s)
- Current Accounts Receivable and Payable reports
- A list of insurance companies and government payors
- The most recent profit and loss statement and balance sheet
- Six months of bank statements
ONCE IN UNDERWRITING, WE'll NEED
- 2 Years of Business Financials: Profit & Loss and Balance Sheet
- 2 Years of Business Tax Returns
- Copy of Most Recent 941 Filing
- Full Accounts Receivable Reports with Detailed Payer Information by Insurance Provider
- Accounts Payable Aging Summary
- Owner(s) Personal Financial Statement
- Proof of Ownership
CAN'T WAIT, NEED FUNDING NOW?
If your laboratory urgently needs capital to cover payroll or other business expenses, we provide revenue-based financing that can be funded in as little as 2 to 3 days. To learn more, click here.