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03-31-2023, 05:04 PM #1
- Join Date
- Feb 2023
- Posts
- 8
Specimen Collection Agency needing $200k-$400k
My client has seen an absolutely dramatic increase in revenue over the last month.
They sell at home covid tests to Medicare patients and it's 100% covered by the insurance, so the cost to the end consumer is $0.
My client was expecting to sell 200-300 of them per day, but instead are selling over 2000 per day. The lab is the one who pays my client once Medicare pays the lab. AR turnaround time is 30-45 days. AR is increasing at a rate of around $70k per day.
This dramatic increase over the last month of them doing this has lead to a serious cash crunch as they are waiting for their first round of invoices to get paid by the lab.
They are looking for $200k minimum but would love up to $400k. They can pay it back in a few weeks as they will be fine once invoice payments start rolling in.
They ideally need the funds by mid next week at the latest. Any lenders here that want to tackle this one? Please shoot me a text if you think you can help.
813-385-1158
Thanks!
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03-31-2023, 05:31 PM #2
Get Medical A/R factoring...if I understand it? I have a guy but out of office.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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03-31-2023, 08:51 PM #3
- Join Date
- Feb 2023
- Posts
- 8
Already went down the Factoring route. The lab that pays their invoices isn't credit worthy enough for that. Been turned down by a few lenders for that already.
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04-03-2023, 01:19 PM #4
- Join Date
- Sep 2022
- Posts
- 51
Hey. You can submit your deals directly to: eric@overnight-capital.com
Eric Hersh
Overnight Capital
T (929)339-0086
C: (917) 500-3981
www.overnight-capital.com
eric@overnight-capital.com
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