[Fundyman]

This agency already has promises for 2 pretty nice contracts.

They are hesitant to sign unless they can secure about $150K in capital for payroll & operations.

Is there a company out there that specializes in healthcare staffing, home health aide, assisted living, industry... anything of the likes?

Please let me know where is the best way to go with this.

[abfunders]

1) Start with a factor.
2) If the credit is good, and there's income verification, put together a personal term loan. If there's no income verification, credit cards are the way to go. I can give you some references.

[Fundyman]

1) Start with a factor.
2) If the credit is good, and there's income verification, put together a personal term loan. If there's no income verification, credit cards are the way to go. I can give you some references.

Credit isn't that good, and they're person term loaned out. Factor might be the way to go. Had their credit been good, I'd have automatically thought of going the credit cards route (you'd have gotten that email from me already).

I guess factoring is the way! Thanks!

[abfunders]

Factoring won't give the startup money, but at least it'll give the cash-flow so that when they do the work, they'll have access to paying staff immediately. Go for a factor that is okay with the medical billing aspect. Insurance billing as the end user is not most factor's cup of tea.

[@jeannette]

I would love to take a look at it. I would need to see the contracts that they have secured to ensure that we could work with their new clients. We do work with startups as long as there is potential. Give me a call 770-362-2307 or jnearing@commercialfund.com

[therosefunder]

I can help you with the factor side of this if you would like to discuss. you can give me a call 917.228.4970

[Kevin Henry-Seacoast]

This agency already has promises for 2 pretty nice contracts.

They are hesitant to sign unless they can secure about $150K in capital for payroll & operations.

Is there a company out there that specializes in healthcare staffing, home health aide, assisted living, industry... anything of the likes?

Please let me know where is the best way to go with this.

Fundyman,

We are active lenders and factors to staffing companies. We usually work with companies that have revenues from $2Mil per year to well over $300Mil per year. We might be able to provide a dry facility for the Company so long as a few items are buttoned up:
-Does the owner have experience in the staffing industry?
-Will they bill in excess of $2Mil their first year?
-Are any of the invoices being paid by Medicare, Medicaid, or Insurance companies? We typically avoid these debtors.
-Has the Company checked the credit worthiness of the senior living centers? These debtors tend to be slow payers.
-How will they be invoicing? Most customers in this industry require weekly time-sheet submissions for approval. Once they are approved they can invoice. If they are working with larger customers or vendor managers they may not be able to invoice once a week with approved time which can add to the working capital need. We can and have financed approved/unbilled time to help customers with payroll needs.

Happy to chat about this. If it is too small, it might be a fit for a some factors where we have provided them their line of credit.

Best,

Kevin