Establishing your PRN Account Step-by-Step
Factoring with PRN Funding provides an effective source of funding to help your company reach its financial goals. When you have decided that factoring is the right decision for your company, PRN Funding will purchase the financial rights to your company’s accepted and verified invoices. Remember, we focus on the credit quality of your customers, not your own. But in order to begin working with PRN funding, you have to first complete the most important step: applying for medical funding.
Applying for Medical Funding Through PRN
Compared to acquiring a bank loan, filling out a medical funding application for our factoring services is a quick and straightforward process:
Contact PRN Funding: Complete an invoice factoring application or call toll-free 216-504-1000 to learn more about PRN Funding and its services and discuss your healthcare business and its financing needs. If you are ready to activate a PRN Funding account, your PRN representative will prepare a set of documents for your evaluation and approval.
Prompt application review: PRN will review your medical factoring application, and if accepted, we will begin our due diligence immediately.
Company background check: PRN will thoroughly review your company’s history. PRN does not require a long or spotless credit history to become a client. PRN will review your company to determine if any liens related to your business exist, such as UCC, tax, or judgment. We will also conduct an extensive credit review of your current customers. PRN will provide your company with accurate and speedy credit information on current and potential.
Remaining documents: While we are conducting our review, we ask that you assemble the required corporate information and execute the documents that PRN has provided. Once you return these to PRN Funding, we review them immediately. If everything is in order, we can begin funding within 3-5 business days.
Initial funding: Submit your first schedule of invoices that you would like to factor and funding can begin immediately.