Client Profile – Nurse Staffing Startup
Industry: Nurse Staffing
Problem: This company provides RNs, CRNs, LPNs, and medical assistants to nursing and rehabilitation centers in the Southeast. The owners, while having extensive healthcare professional experience, felt it their mission to multiply their effectiveness in our current pandemic and employ like-minded colleagues regionally. The business was on a steep growth curve and being able to pay their people as contracted became a genuine concern. Having no hard business assets to use as collateral made securing a bank line of credit a real challenge.
Solution: Associated Receivables Funding worked quickly to learn their business, as we have done with a myriad of similarly-constructed businesses. A/R Funding was able to establish a $500,000 facility based on their accounts receivable to help them meet their payroll obligations and allowed them to bring on new customers.
A/R Funding is excited to work with these new clients and to be a part of their expected growth!
Congratulations to Scott Chaffee out of our Greenville, SC, headquarters for closing a new deal!