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We are well-aware that most medical professionals are not businessmen or businesswomen. They did not start their careers to become experts at balancing cash flow, making wise investments, or harboring safe levels of debt. But at United Capital Source, educating our clients is just as important as funding their success. We are happy to show you how to prevent cash shortages in the future and keep a closer eye on your finances without getting so overwhelmed you can’t serve your patients.
Since dentists experience numerous types of cash flow problems, we offer numerous types of small business loans for their individual needs. Two popular examples are merchant cash advances and accounts receivable factoring.
Say goodbye to being short on cash
Merchant cash advances are ideal for long-term investments that will not immediately impact revenue. Payments are deducted from debit and credit card transactions, which is how most dental patients make payments after appointments. These deductions are also made automatically, with no involvement on your behalf. This is particularly advantageous for dentists, who are often too busy to remember to make monthly payments or worry about rising interest rates.
Possible uses for funds include buying new equipment, launching marketing campaigns, ordering inventory, or increasing staff. All of this can be accomplished when business is slow because you don’t have to make significant payments until it kicks back up again. This is why many UCS clients in the medical field take out merchant cash advances during the slow season so they can prepare for the back-to-school busy season.
If your cash flow is severely restricted because of delinquent payments from insurers, accounts receivable loans may be exactly what you need to grow and stay current on bills. The business lender purchases your unpaid receivables for a discount price, shortening your business cycle from months to just a few days. You no longer have to waste time chasing down insurers for payment because it’s now up to the business lender to handle collections.
Accounts receivable factoring is often used to make payroll or simply keep adequate cash reserves on hand all year round. Perhaps the biggest benefit is being able to cover expenses right away because the longer you wait, the more you lose. Apply now to see how much you qualify for!