by ARTIS COMMERCIAL CAPITAL | Aug 29, 2023 | Blog
Running a medical practice is no easy task, and it requires a great deal of financial management. Fortunately, there are options available to healthcare professionals that can make managing finances much easier. Invoice factoring is one such tool that can help you get the cash flow you need for your medical practice without having to wait for payments from patients or insurance companies.
How Invoice Factoring Works for Medical Practices
Invoice factoring essentially involves selling your unpaid invoices to a third-party factor, and in exchange for an upfront fee, you are able to receive a large portion of the invoice amount immediately. This can provide you with the cash flow you need without having to wait 30-60 days or more for payment. This is especially beneficial if you are trying to cover overhead costs such as payroll, supplies, and other expenses. Invoice factoring also eliminates the need for you to spend time and energy following up with patients or insurance companies on unpaid invoices.
The Benefits of Medical Factoring
Additionally, invoice factoring can help protect your practice from bad debt caused by delinquent payments or non-payment from patients or insurance companies. The third-party factor assumes the risk of non-payment, so you don’t have to worry about losing out on an invoiced amount. Furthermore, invoice factoring can help improve your credit rating and allow you to access additional funding options in the future.
Overall, invoice factoring is a great financial tool for healthcare professionals who need immediate cash flow without having to wait for payments from patients or insurance companies. By leveraging invoice factoring, you can ensure that your medical practice is financially secure and protected from bad debt. To start factoring invoices for your medical practice, contact the team at Artis Commercial Capital today. We can make funds available within 24 hours with no upper limits, and free credit insurance on qualifying patient accounts.
by ARTIS COMMERCIAL CAPITAL | Aug 22, 2023 | Blog
Purchase order financing is a type of short-term funding that enables businesses to purchase goods or services from suppliers without requiring the immediate payment of cash. It can be an invaluable source of capital when used correctly, allowing business owners to grow their companies quickly and efficiently.
The Basics of Purchase Order Financing
When it comes to the specifics of PO financing, there are a few key components to consider. For starters, the process begins when a business places an order with one of its suppliers and needs capital in order to pay for it. The business then contacts a purchase order finance company which will review their application and determine if they’re eligible for funding. If approved, the finance company will provide the upfront cash necessary to cover the cost of the goods or services being purchased from the supplier. Once these have been delivered, the finance company will take back their money plus any additional fees incurred during the process (such as transactional fees or interest).
When to Use PO Financing
PO financing is typically only available to businesses with at least several months of good sales history and a solid credit score. That being said, it can be an extremely helpful tool for companies experiencing cash flow issues or looking to take advantage of large orders that they would otherwise have difficulty paying for in the short term. Additionally, PO financing can be used by small businesses to take on larger client accounts and use the revenue from those sales to achieve rapid growth.
All in all, purchase order financing can be a great option for businesses that find themselves in need of short-term capital for large orders. With the right finance company on your side, you can ensure that your suppliers are paid on time and take advantage of the growth opportunities available to you. Contact Artis Commercial Capital to learn more about our comprehensive purchase order financing solutions.
by ARTIS COMMERCIAL CAPITAL | Aug 15, 2023 | Blog
For small business owners, the fear of bad debt can be a major concern. After all, if you don’t get paid for your services or products, it could spell disaster for your bottom line. Fortunately, invoice factoring is an excellent tool that can help protect your company from taking on bad debt and even improve cash flow in the process. Invoice factoring involves selling unpaid customer invoices to a third-party lender at a discount in exchange for immediate payment.
Understanding the Basics of Invoice Factoring
First, it’s important to understand the basics of invoice factoring. When you factor invoices, you receive an advance payment for your unpaid customer invoices. This means that instead of waiting 30, 60 or even 90 days or more for customers to pay their bills, you can get paid right away. The lender will then collect payments directly from your customers, allowing you to focus on running your business instead of chasing down overdue payments.
Research Factoring Services
Next, when using invoice factoring to protect yourself from bad debt, it’s important to make sure the company you are working with is reputable and honest. Research online reviews and compare rates and fees between lenders before making a decision. Additionally, it’s important to consider the creditworthiness of your customers. The more reliable and financially sound they are, the less risk you will have with invoice factoring.
Establish Clear Payment Terms
Finally, it’s a good idea to set up clear terms of payment with your customers. This will minimize the chances that they will default on their payments and leave you carrying the cost. Clearly stating payment due dates and outlining any late fees or penalties can help ensure that your invoices stay current and improve your chances of avoiding bad debt.
By understanding how to use invoice factoring properly, small business owners can protect themselves from taking on bad debt while maximizing profits in the process. Contact Artis Commercial Capital today to start factoring your invoices.
by ARTIS COMMERCIAL CAPITAL | Aug 8, 2023 | Blog
In today’s highly competitive business environment, small businesses must find ways to stay ahead of the competition. One way they can do this is by using purchase order financing (POF). POF enables small businesses to fund their orders so that they can take on larger orders without straining their resources. By taking advantage of POF, small businesses are able to compete with larger companies and expand their market share.
Financing for Large Orders
Purchase order financing offers small businesses quick access to capital that can be used to fund large orders. It allows them to acquire inventory, meet customer demands, and increase production in a timely manner. This type of funding also eliminates cash flow concerns around the purchase of larger orders, as funds are provided upfront for goods and services. Additionally, it helps free up working capital, allowing businesses to focus on expanding their operations and reaching out to new customers.
No Collateral Required
One of the biggest advantages of purchase order financing is that it does not require a personal guarantee or collateral from the business owner. This helps them avoid putting their own assets at risk while still being able to access larger orders. Furthermore, POF can be used for many different types of orders, including goods and services. This makes it a great option for businesses that are looking to expand their product offerings and services.
Reduce Costs
Lastly, purchase order financing can help small businesses reduce costs associated with acquiring inventory or producing goods. By taking advantage of this form of funding, businesses can access the capital they need quickly and easily while keeping their expenses low. In turn, this helps them to remain competitive in the market and expand their operations.
Overall, purchase order financing is a great way for small businesses to access capital quickly and easily without putting their own assets at risk. By taking advantage of this type of funding, they can compete with larger companies, increase their market share, reduce costs associated with acquiring inventory or producing goods, and free up working capital. This makes POF an ideal tool for small businesses that are looking to expand their operations and reach out to new customers. Contact Artis Commercial Capital today to start using purchase order financing for your business.
