Healthcare staffing company streamlines collections with a $500K factoring line

AR Funding is proud to welcome this nursing staffing company as one of its newest clients.

AT A GLANCE

Industry: Healthcare staffing
Location: NJ
Company size: ~$4 million annual revenue
Reason for applying: Unpredictable cash flow
Cash available through factoring: $500,000

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PROBLEM: Chaotic collections process reduced available cash

Founded in 2020, this temporary staffing firm is a certified women- and minority-owned business (WMBE) and a recognized diversity supplier. With two national clients, the company has become very busy in a short period of time, and their bookkeeping did not keep pace. A number of invoices were outstanding for more than 90 days, and the owners were overwhelmed by the accounts receivable and collections process. Late payments and missing timesheets had begun to jeopardize the company’s cash flow and its ability to take on new clients and growth. 

SOLUTION: $500,000 factoring credit line

The company owners decided that factoring their invoices would help them clean up their collections process and accelerate cash flow. After evaluating several factors, they chose AR Funding based on the company’s competitive rates and excellent service.

AR Funding was able to offer the company a $500,000 factoring line along with support from the AR Funding collections team that ensures the company’s timesheets are complete and invoices are paid on time. 

This happy client received financing with help from Courtney Moore, Regional VP, Northeast Region. Find out how much cash your company can access through invoice factoring. Talk to us.