We Provide Fast Funding to Help Nurse Staffing Agencies Grow
Improve Your Cash Flow with Nurse Staffing Factoring
Does waiting months to be paid for your temporary nursing staffing services affect your ability to meet payroll and pay taxes on a timely basis? Does the lack of cash flow prevent you from expanding your nurse staffing agency and hiring new temporary employees?
If you answered YES to either of these questions, then PRN Funding’s nursing staffing factoring program is the perfect prescription for your temporary nursing staffing agency’s cash flow needs. Factoring is a great long or short-term financing solution for nursing staffing firms of all sizes and stages.
Get started now by completing our factoring application or read on to learn about specific ways that PRN Funding can help your agency continue to grow, without compromising your present obligations to payroll, taxes and vendor invoices.
PRN Funding has spent the better part of a decade in the healthcare services industry, so we understand the unique challenges faced by those who staff nurses in hospitals, medical clinics, nursing homes and long-term care facilities. We understand that well-managed, profitable small and mid-sized nurse staffing agencies often experience cash flow difficulties as they grow rapidly or as their clients continue to extend the payment of invoices.
Instant Payroll Funding for Nursing Staffing Agencies
- General nurse staffing
- Temporary nursing
- Home care staffing
- Locum tenens
- Private duty
- Travel nursing
A Better Way to Fund Business Growth
Get your free quote @ 216-504-1000
Use Factoring to Grow Your Staffing Agency
Nurses are in high-demand. What happens if you land a lucrative new contract next week with a local hospital? Do you have the upfront funding for payroll and other expenses of hiring additional nurses? Even if you can cover the recruitment costs, is there enough money available to ensure all nurses are paid on-time? If the answer is “no,” or “not sure,” welcome to the club. With an abundance of upfront costs, almost every staffing agency has struggled with cash flow shortages at one time or another.
Invoice factoring can alleviate these worries by providing your business with a reliable source of working capital. We provide same day cash for your outstanding invoices. By factoring nursing staffing invoices, you’ll be able to cover your costs, better manage growth and take advantage of the extra wiggle room in your finances to take on new opportunities and contracts.
If you’re just getting started up, factoring is an ideal payroll funding option. Lack of time in business or a less-than-ideal credit history won’t prevent you from qualifying. If you have outstanding invoices from creditworthy customers, you can be approved in as little as three days. So, go ahead and say “YES!” to that new contract. We’ve got your staffing firm financing needs covered.
PRN Funding’s Nurse Staffing Factoring Program
Why should your nursing employment agency work with us? For starters, we work exclusively within the healthcare industry. If you’re looking for a funding partner that knows the ins and outs of your business model, there is no one better than us.
Immediate Access to Cash
Funds can be in your account within hours of verification.
Complete Nurse Staffing Factoring Flexibility
As a temporary nurse staffing agency, you have the freedom to factor when you want, how you want, whom you want and for however long you want. We strive to earn your business.
Nurse Staffing Factoring Expertise
PRN Funding operates exclusively in the healthcare industry, which means we know the ins and outs of nursing staffing factoring. You’ll be assigned a dedicated account manager that has expertise in your niche and always available to answer any questions and address any staffing factoring questions you may have.
The Factoring Process
1. Staff nurses.
2. PRN will check the credit of any new clients prior to funding receivables. If the client is already approved, the factor will simply verify the invoice(s).
2. Once verified, funding for your nursing staffing agency is available within 24 hours.
3. Your clients pay PRN Funding for the receivables purchased. Payments are made directly to our lockbox.
4. Once paid, we release the amount held in reserve, minus any factoring fees.
Approval is easy for almost any nurse staffing firm, even the ones just starting up. We don’t require a strong credit history or any personal guarantee. You can qualify for nursing staffing factoring or payroll funding regardless of your credit history. Poor credit, no credit or past bankruptcies, liens or judgments won’t prevent you from qualifying.
Remember, invoice factoring is not a loan. PRN Funding doesn’t lend money – we purchase your outstanding invoices and provide an advance. Approval is based on the credit strength of your customers since they are the ones responsible for payment.
If you’ve been declined for other financing programs, give us a call and see what we can do for you!