How the Healthcare Industry Can Use Merchant Cash Advances
It’s usually fairly difficult for any small business to secure a business loan from a bank or any other kind of traditional lender, with approval rates hovering well under 50%. However, if you are involved in the healthcare industry, and you’re experiencing cash flow issues because patients or insurance carriers are slow to make payments, your business could be a good candidate for a merchant cash advance.
When securing a merchant cash advance, you will be able to get money in your hands very quickly, so that you can pay suppliers, manage payroll, and purchase inventory as needed, without having to wait for incoming revenue. Here are some of the other advantages that your healthcare facility might enjoy when securing a merchant cash advance.
How an MCA could help your healthcare business
In addition to simply solving a number of cash flow issues, there are number of other ways that securing a merchant cash advance could be crucial toward the success of your healthcare business. For instance, you might be a startup dentist who is trying to establish your own clinic in a given community. You might also be a chiropractor who wants to establish a therapy clinic so as to provide services for community members. Optometrists might also benefit by securing an MCA, because it can be used to procure new equipment and more advanced technology, which might put you a leg up on the competition.
Even general practitioners might benefit greatly by securing a merchant cash advance, because it might allow you to expand your clinic and provide additional services to current patients as well as new ones. Merchant cash advances can also be extremely helpful for businesses which are in need of second, third, or fourth position loans. In short, there are any number of very practical uses which an MCA can be put to, and almost anyone involved in the healthcare industry would benefit by securing one of these very worthwhile cash advances.
Would a merchant cash advance help your healthcare facility?
Many healthcare businesses experience cash flow issues, due to slow-paying patients or insurance carriers. If you’re interested in obtaining a merchant cash advance to relieve cash flow issues, contact us at Kasher Capital.