Fast AR Funding Provides $200K Factoring Facility to Healthcare Staffing Company

Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support the growing payroll needs of a temporary healthcare staffing company based in the UK.

When the company decided to open operations in the U.S., it tasked Fast AR Funding to help it keep up with demand. Shortly after setting up in the U.S., the company’s domestic growth quickly outpaced expectations and the company found its with a cash flow gap to keep up with growing payroll. The company’s UK parent turned to Fast AR Funding to enable its U.S. operations to become self-sufficient, as it planned to expand in other countries as well.

Within the first six months as a client, Fast AR Funding increased the company’s facility limit to more than $1 million as the company experienced a surge in the demand for nurses across the country.

The nurse staffing company provides temporary placement of qualified healthcare professionals to hospitals, regional medical providers and healthcare VMOs.