With our Medical Electronic Payment Financing product, ProMAC provides opportunity capital to the Health-care sector.
Instead of submitting and financing against individual invoices, ProMAC evaluates the last 6 months of your electronic payment receipt volume and finances against the business’ next 6 months of projected electronic payment activity. Repayment for financing occurs through collection of a predetermined fixed percentage of your future electronic receivables.
Our financing is non-recourse (no personal guarantee on periodic or final repayment) and unsecured (no asset or cash flow collateral required). Good candidates are clients that receive regular payments (no less frequent than weekly) from a diversified client base OR from government sources. While we focus predominantly on the medical and healthcare arena, any candidate that would typically consider receivables factoring would be a good candidate for our product.
Businesses that represent the best fit for our product include:
- Medical facilities who receive regular Medicare EFTs and HMO/insurance company payments electronically. Examples include but are not limited to ambulatory or surgi-centers, imaging centers, emergent care clinics, pain clinics, medical parks with multiple specialties and pharmacies.
- Practitioners that perform high elective procedures and accept GE Care Credit and other forms of patient financing as payment from customers. Examples include but are not limited to dentists, aestheticians, plastic or cosmetic surgeons, orthodontists and veterinarians.
- Companies who use a billing company to collect payments from their customers (in any industry)
To find out more about this new alternative financing product contact us online or give us a call @ (631) 901-1050 today.
