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Factoring FAQ’s

Get all of your factoring questions answered, whether you’ve been factoring for years or just getting started.

We’ve compiled these factoring FAQ’s to ensure you have all the knowledge needed to progress further. Have a question you don’t see listed? Give us a call. Our factoring experts are here to help!

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Factoring is basically selling your invoices to a funder (factor) at a discount in order to receive cash immediately. PRN Funding will purchase your medical accounts receivables for staffing, home care, medical billing, coding, supplying and more.

Any valid invoice for healthcare services already performed that has not been pledged to another entity.


The same way you would collect. You’ll serve your customers as usual, submit your invoices to PRN Funding and the customer will pay us instead of paying you. This eliminates the wait time for you and we take the responsibility.

Once an account has been established, you can receive cash advances within 24 hours for a verified invoice sent to an approved credit risk.

Fill out an application with PRN Funding. Don’t worry; we focus on the quality of your customers who you’ll be invoicing, not your credit or bank history. If you prefer to talk to one of our team members, feel free to call us at 216-504-1000 and we’ll get the process going ASAP.

The work/goods must have been completed, delivered and accepted; and your customer must be a creditworthy risk.

Absolutely. We focus on your customers that you’ll be invoicing, no you as an individual.

Yes, if you have creditworthy customers, working with startups is acceptable for PRN Funding.

Once again, yes!

The work/goods must have been completed, delivered and accepted; and your customer must be a creditworthy risk.

Unlike debt financing requirements, PRN Funding does not require a history of profitability, a long operating history, personal collateral or any personal guarantees.

We establish our rates for each individual client, so you’ll know exactly what each transaction will cost. Rates are available upon request. You can call 216-504-1000 or fill out a form and we’ll get you the information you need.

We have no minimum nor maximum! We can provide funding for a business of any size.


When PRN funds you the cash advance, a small percentage of the invoice goes into a reserve amount. When your customer pays us the invoice amount, we release most of that reserve, subtracting a small fee that goes to us.

You inform your customer that the financial rights to the invoice have been sold to PRN Funding. You continue to bill normally. Checks are made payable to PRN Funding and mailed to our address.

There is no fixed-term to any of our contracts. You can sell us invoices for as long or as short of a period as you require.

No, you can factor as few as one or as many as all of your customers’ invoices. You can stop factoring whenever you want, or continue for as long as you desire/need.

As a non-recourse factor, PRN Funding assumes the risk of your customer not being financially able to pay for the services provided. However, we do not assume the risk of non-payment due to disputes regarding quality or timeliness of goods or services.

Receivables-based financing is used by many of the largest corporations in the world to improve cash flow, support growth, and increase profits. Many of your customers may use this factoring service themselves and others have become familiar with it through other vendors. The fact that you qualify for this ‘credit line’ makes a strong positive statement.

Yes, as long as you wisely use the additional time and cash derived from factoring. Factoring can be quite beneficial if you use it as a means to increase your sales, improve your credit, take advantage of early payment discounts or focus on managing your business. It is a simple financing solution that offers you flexibility that many business owners need or want.

It’s simple. Call 216-504-1000 or complete our initial factoring application, and we will contact you promptly to discuss the next step.

Don’t Allow Slow-Paying Customers to Get in Your Way!

PRN Funding can help! Call us today @ 216-504-1000

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