A contractor with the City of Detroit providing needed behavioral and developmental health services for youngsters requiring this type of help, could not sustain his growth and faced losing his contracts and more importantly losing his business.
The program under which these services were provided required that the contractor, once he completed his services, had to send 50% of what he was billing to the county and a week or two later he would get the entire billed amount. When his business was small this was no problem, but when his invoices grew to $50K and $80K the 50% he had to send in became impossible.
Through factoring, the factor (Xynergy Healthcare Capital), advance the 50% to the county and made it easy and painless to continue in business and in fact to grow aggressively.
Xynergy Healthcare Capital can do the same for any healthcare provider with cash flow challenges.
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