Provider Web Capital has launched a new product, Remit LOC, which allows medical practices to establish a facility that works like a line of credit.
Online PR News – 09-August-2016 – Provider Web Capital has launched a new product, Remit LOC, which allows medical practices to establish a facility that works like a line of credit. The goal is to provide owners access to capital without having to abide by the strict repayment structuring of a typical business loan. With this structure, a healthcare business is approved for a financing line and is only required to take a small draw at closing. The remaining facility is just a phone call away. Jack Daly, Chief Revenue Officer of Provider Web Capital, states We are excited with our product development teams recent launch of Remit LOC. This customized Provider Web working capital facility gives us another dynamic offering to meet the unique financial needs of healthcare providers. The immediate market response has been tremendous.
Along with the development of this inventive product we are pleased to report continued growth in origination numbers in July 2016. Client financing originations are up 110% for the first seven months of 2016 compared to this same period in 2015.
Transactions of note are highlighted below:
A Few Examples of Funding Support for Our Clients in July:
-$60,000 to a medical transportation company in Georgia looking to purchase an additional vehicle. The increase in transportation capabilities allows the business to serve more patients.
-$55,000 to a mental health facility in Newport Beach, California who is opening a new facility to meet the rising demands of a growing customer base.
-$25,000 to a Colorado based medical supply company. As their sales revenue has grown the need for additional staff has as well. Provider Web Capital was pleased to lend a helping hand in this time of expansion.
-$17,000 to a home health business in California that is using the additional capital to branch out to hospice care.
Provider Web Capital delivers our clients value, trust, and common-sense solutions structured specifically for health care small businesses. For further information, please contact us today at (855) 860-9700 or visit us at http://providerwebcapital.com/.