[skideeppow]

SO,
I have this ED clinic, 6 locations doing 20mill a year in gross sales.
They were processing with Harbourtouch and they shut them down, are holding 75k in risk reserve and will not release it till April 1st. On 75k in sales, they has .16% in chargebacks. HT says they dont like the business.

Obviously that is very low. The last two years their chargebacks were around 1.2%.
So would anyone be willing to loan them, say 55-60k with anticipation of getting paid back the 75k once the reserve is released April 1st?

I know they would need to get something in writing saying the reserve will be released from HT.

Any thoughts?>

[holdinghand]

Prepare to answer a lot of PM's if gross is truly $20MM /yr.

[bdshaw]

With a medical practice doing $20mm annually why are they concerned about 60 k?
Something is wrong. I've nevw heard of a situation like this where the business manager can't pick up the phone and get a short term for this amount.
Perhaps they need to look at a longer term financisl solution.
Most of their earnings will come through Medicare and are easily financable.
Bob Shaw
Iron Horse Credit, LLC.
rshaw@ironhorsecredit.com
734.929.3800

[Hedley Lamarr]

With a medical practice doing $20mm annually why are they concerned about 60 k?
Something is wrong. I've nevw heard of a situation like this where the business manager can't pick up the phone and get a short term for this amount.
Perhaps they need to look at a longer term financisl solution.
Most of their earnings will come through Medicare and are easily financable.
Bob Shaw
Iron Horse Credit, LLC.
rshaw@ironhorsecredit.com
734.929.3800

Bob,

Bet you the net revenue number is no way near $20mil. Invoices vs. collections for healthcare services can be all over the map.

[GAMEOFISO'S]

I agree.

[Yankeeman07]

SO,
I have this ED clinic, 6 locations doing 20mill a year in gross sales.
They were processing with Harbourtouch and they shut them down, are holding 75k in risk reserve and will not release it till April 1st. On 75k in sales, they has .16% in chargebacks. HT says they dont like the business.

Obviously that is very low. The last two years their chargebacks were around 1.2%.
So would anyone be willing to loan them, say 55-60k with anticipation of getting paid back the 75k once the reserve is released April 1st?

I know they would need to get something in writing saying the reserve will be released from HT.

Any thoughts?>

Harbortouch is holding a reserve? I represent HT, do not know of them writing high risk accounts.

Either way, we purchase future receivables. Contact me, maybe we can assist your client.
If they need a HIGH RISK processing account, we can assist them

[bdshaw]

Kevin, I would rather save time and just mail you a check.
Bob

[skideeppow]

got tax returns. 19 mill in gross

[Yankeeman07]

SO,
I have this ED clinic, 6 locations doing 20mill a year in gross sales.
They were processing with Harbourtouch and they shut them down, are holding 75k in risk reserve and will not release it till April 1st. On 75k in sales, they has .16% in chargebacks. HT says they dont like the business.

Obviously that is very low. The last two years their chargebacks were around 1.2%.
So would anyone be willing to loan them, say 55-60k with anticipation of getting paid back the 75k once the reserve is released April 1st?

I know they would need to get something in writing saying the reserve will be released from HT.

Any thoughts?>

Did you obtain a solution?