AquinaNovember 1, 2015

Strong Origination Numbers and Continued Growth Trend In Q4

Strong Origination Numbers and Continued Growth Trend In Q4

Provider Web Capital is pleased to announce substantial growth in originations for October; the firm saw significant growth across many sectors within the healthcare industry, with transactions of note listed below:

  • $250,000 to an Idaho based home health provider for working capital needs
  • $100,000 to a mental health provider in South Carolina for cash flow management
  • Additional fundings to multiple providers across the United States to stabilize cash flow after ICD-10 implementation
  • Additional capital to a durable medical equipment provider for business expansion

When asked about Provider Web’s recent success, Christopher Stenglein, Chairman of Provider Web, stated, “We’ve seen a significant growth month over month in deals funded. This is cementing the belief that our clients are responding to our Remit eXL product; with the healthcare lending marketplace seeing a substantial shift towards alternative lenders, Provider Web has been able to grab its share and will continue to do so in the future.”

When asked about his beliefs on the newly implemented ICD-10, Mr. Stenglein was quoted as saying, “We understand that providers are going to see major disruptions in the coming weeks. With over 70,000 new coding regulations finally being implemented, small business healthcare practitioners are going to see delays in reimbursement, both from government payers and private insurance. Provider Web can step in and offer quick, easy access to capital that can ease provider’s worries during this ordeal. We take great pride in providing the best possible service to our customers; we like to think of our products as investing in their company. We want to grow with them, and help them maximize their profitability as best we can.”