Industry: Health and community services
Facility Limit: $150,000
Background:
Our client is an accredited home care agency providing services to government funded health care providers which has built a strong reputation within the industry in the last 25 years. These health care providers recently started to extend payment terms. Cash flow problems started to arise, since the business was growing and has over 30 full-time registered nurses who needed wages to be paid on a weekly basis. Our client applied for an overdraft through major banks, however, were turned down as they were unwilling to provide a facility without property security to help our client fund the growing need of the business.
Why FactorONE?
Following a direct enquiry, FactorONE were quickly able to offer our client a full funding and accounts receivable management solution. Through this facility, our client has been able to undertake and negotiate more business and have continuous funding and cash flow support despite the changes in the extended payment terms, all without needing to offer property security.
