In the Healthcare Industry getting paid on time can be a huge burden. Between medicare and state regulation, private businesses in this industry often suffer from delayed payments exceeding 90 days. Although the money will eventually come in, it is pretty much impossible to run a business with a tight cash-flow. Workers need to be paid, operating bills need to be covered and most important the business needs to stay alive, so people can.
An assisted living and community business came to Amerifi when Pennsylvania failed to make payments on time. To stay afloat for the next few months until they were reimbursed, our client needed to secure capital. They could not go months without making payroll, buying more inventory, and paying off operating expenses. Senior citizen lives are too valuable to try and budget around.. With a tax lien that is yet paid off, the bank was not an option. So Amerifi filled the void.
Domenic Nardini, one of Amerifi’s premier Managing Broker’s in the healthcare space, was able to secure a $350,000 Bridge Loan for this $12 million company. Our client now can continue making strides to becoming a leading player in the Healthcare Industry.