Non-Emergency Medical Transport Company Secures $150K Factoring Facility to Overcome Cash Flow Challenges

The Situation
A South Carolina-based non-emergency medical transport company has been in business for three years and seeks to factor its invoices. The company invoices up to $25,000 every two weeks. Recently, its debtors shifted to NET-30 terms, causing difficulties in covering payroll and fuel costs. The client struggles to maintain cash flow with a current MCA balance of $17,000 and 9 transport vehicles in operation.
The Solution
SouthStar Capital provided a $150,000 Factoring facility tailored to this company’s needs. This facility enabled the company to factor in their invoices, ensuring a steady cash flow to cover payroll and operational expenses without delay.
The Result
With the support of SouthStar Capital’s Factoring facility, this medical transport company efficiently funded its invoices and maintained operations without cash flow interruptions. This financial assistance allowed it to manage payroll and fuel costs effectively, ensuring the continued reliability and growth of its non-emergency medical transport services.