BY PRN FUNDING

Nursing Staffing Agencies: How to Start AR Factoring

How does Accounts Receivable Factoring Benefit Nurse Staffing Companies?

Nurse staffing agencies need consistent cash flow to cover expenses, provide staff for their clients and pay

employees. Inadequate cash flow makes it difficult to run a successful nursing staffing agency. Accounts receivable

factoring is here to help nurse staffing agencies when cash flow challenges arise.

Starting the Factoring Process

The factoring process isn’t difficult. We’ve made it easy for your nursing staffing agency to get funded with speed,

flexibility and affordability.

Step 1: Fill out the Application and Submit Your Documents

Factoring companies require minimal documentation. This includes the application, an accounts receivable

aging report, articles of incorporation and a customer list.

Step 2: Choose the Invoices to Factor and Submit Debtor Information

Select which invoices to factor and submit the name and address of the debtor to factoring company. The

factor will check their credit and financial background. It’s okay if you don’t have a spotless financial background,

factoring approval is based primarily on your customer’s creditworthiness. If your customers pay on time, you’re a

great candidate for staffing factoring.

Step 3: Verification

The accounts receivable factoring company will verify the invoices at the healthcare facilities where your nurses

work.

Step 4: Set Up Payment

Once the verification process is complete and your company is approved, the factoring company will notify the healthcare facility’s accounts payable department to

submit payment to the factor.

Step 5: You Get Cash

The factoring company advances your nurse staffing agency roughly 80 to 90 percent of the invoice amount.

The remainder is held in reserve until the factor receives payment. That 80 to 90 percent can be used however your agency sees fit, meaning you can put funding towards your primary goals instead of being

held back from success.

Step 6: Your Customer Pays

The healthcare facilities you work with send payment to the factoring company. Staffing factoring companies

will handle the billing and collections so you can get back to running your agency. Once payment is received, the reserve is released back to you, minus a small factoring

fee for our services.

Get Started!

Start the accounts receivable factoring process for nurse staffing agencies by getting in touch with PRN Funding. Just call us at 216-504-1000 or visit us at

http://www.prnfunding.com/.