The Advantages of a Merchant Cash Advance for Medical Practices

All businesses require a positive cash flow in order to maintain a certain level of success, and certainly to experience any kind of real business growth. Even a medical practice requires a healthy cash flow in order to continue to provide outstanding health services to its patients. If your medical practice suffers from inconsistent cash flow, a merchant cash advance (MCA) may be just the answer. Here are some of the benefits your medical practice would receive from obtaining a merchant cash advance.

Financing Is Flexible

Because repayment for your merchant cash advance is based on the volume of your incoming credit card transactions, you only have to repay a certain percentage of what your patients remit to your medical practice. When payments are high, your MCA repayment can likewise be high, and the cash advance will be paid off sooner.

Help Your Practice Grow

The only way you can really grow your practice is to have the necessary funding on hand. When you receive a merchant cash advance, you will have immediate cash that you can use for any purpose whatsoever. This means you’ll be able to upgrade your equipment, hire additional personnel, or possibly offer new services to your patients.

Easier Approval

Especially when a business is first starting out, it can be difficult to receive funding for any purpose. Banks especially are notorious for declining businesses with inadequate history, or perhaps with a relatively poor credit history. When you apply for a merchant cash advance, your chances are much better of being approved than from any traditional lending institution. All that’s really necessary is that you have a good track record for credit card transactions, and money can be in your hands very quickly.

Positive Cash Flow

It doesn’t take much to put any medical practice behind the eight balls, when patients continue to make late payments. This, combined with operating expenses, can put a tremendous strain on cash flow. You won’t have to worry about any of this when you receive a merchant cash advance, because you will have funding within just a few days, and that can help you overcome any shortfall with regard incoming revenue.

Would your medical practice benefit by a merchant cash advance?

If your medical practice typically has a high volume of credit card sales, you might be a good candidate for obtaining a merchant cash advance. This will put funds in your hands immediately, in exchange for a specified percentage of future credit card sales. Contact us at Commercial Capital Partners if you would like to discuss receiving a merchant cash advance.