Merchant Cash Advance for Healthcare Practices

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Merchant Cash Advance for Healthcare Practices
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What is a Merchant Cash Advance
A merchant cash advance is a type of funding when
a business sells future receivables for an
upfront lump sum of cash. This gives businesses
liquidity for immediate needs like payroll,
purchasing supplies, and more. The advance amount
will vary based on how much in sales the business
makes. In the case of healthcare businesses,
this could be for replacing essential equipment,
purchasing needed medications, or ensuring you
can meet payroll if insurance companies are
behind on payment.
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Benefits of Merchant Cash Advance for Healthcare
Businesses
Here are the benefits of using a merchant cash
advance for your business needs
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Quick liquidity
Once youre approved for a merchant cash advance,
you may be able to get a deposit into your
business bank account in as little as a few days.
The funding approval process is much quicker than
a traditional term loan from a traditional bank,
giving business owners the opportunity to meet
their cash needs quickly.
Few documents needed
Qualifying for a merchant cash advance is largely
based on bank statements, past credit card
transactions, and future credit card sales. This
is a much different way of small business
financing, compared to a term loan.
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A good credit score isnt required
A business cash advance loan more closely
reflects a traditional loan, while a merchant
cash advance is simply selling your future
receipts for an upfront payment. Because an MCA
isnt a loan, MCA lenders may not need your
personal credit score or credit history. This
also means there is no interest rate attached to
the advance, but rather a factor rate.
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What Should a Healthcare Business Use an MCA For
The United States spend trillions of dollars each
year in healthcare. Practices were also spent in
tandem, with estimated costs between 60-70 of
total revenue. The lions share of those
expenditures is payroll, benefits for employees
and building facilities. However, because an MCA
can come with significant costs, its important
to use this financing option for an urgent need.
If a long-term financing need comes up, you may
also consider a business line or credit or
business term loan.
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• Here are a few short-term expenses an urgent care
  center, dental practice, wellness center or other
  type of business in the healthcare space could
  use a small business cash advance for
• Medical equipment and tech
• Patient acquisition from marketing channels
• Payroll and staffing expenses
• Compliance costs

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Where to get a Merchant Cash Advance
Traditional lenders offer small business loans,
but dont typically offer instant merchant cash
advance or business cash advance loans. Online
lenders and alternative lenders are much more
likely to offer small business cash advances. The
advantage is that these lenders tend to move
faster and can potentially approve your business
quicker than a commercial lender would.
Additionally, the application process can be
quite straightforward.
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Why Choose Biz2Credit?

• Trusted partner for franchise funding
• Biz2Credit was founded in 2007 and has provided
  more than 10 billion in loans.
• Dedicated support team
• Tailored financing solutions

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