Q4 Finished: Strongest Month Ever; Unveiling New Products
Provider Web Capital is excited to announce another record breaking month for originations. The company finished off Q4 with its best month to date; notable transactions are highlighted below:
- $200,000 to an addiction recovery center in Kentucky for working capital
- $150,000 to a Louisiana based counseling center for expansion
- $100,000 to a home health provider based in Hawaii to stabilize cash flow
- Additional capital to a durable medical equipment provider for business expansion
Provider Web Chairman Chris Stenglein expressed his elation and optimism at Provider Web’s staggering growth in just one year. “When you look at how far we’ve come, in just one year, it is simply astounding. Our client base has grown more than tenfold, and our monthly originations in December 2015 are seven times greater than this time last year. We are diversifying our portfolio to include a broad array of clients across the healthcare sector; Provider Web knows how to address the specific needs and complexities of each of its clients with products tailored to meet their business needs.”
Provider Web has unveiled a new product in 2016; the Remit eXL Extended offers a solution to clients that require longer repayment terms. This product, which will extend the average maturity to 18 months, will provide clients with lower weekly payments. Accordingly, this product will be geared towards businesses that meet stricter credit criteria; areas of emphasis include monthly revenues, years in business, as well as business and personal credit metrics. When asked about the innovative new product, Mr. Stenglein was quoted as saying, “For so long, Provider Web has been effectively serving many clients who would have difficulty acquiring financing from other channels. With Remit eXL Extended, Provider Web opens itself up to new clients who qualify for longer repayment terms. By incorporating this product with our traditional Remit eXL, we extend our presence within the healthcare sector in order to best serve the consumer. This new product allows us to help clients with stronger credit criterion that we otherwise would not be able to help.”
About Provider Web Capital:
Provider Web Capital is a specialty provider of commercial funding programs developed specifically to address the needs and complexities of the healthcare sector. With offices in Atlanta and New York, Provider Web Capital works with clients across the United States. Provider Web Capital has developed practice financing products designed to supply healthcare providers fast access to short term funding for their business. Repayment is based on receivable collections and is not tied to a fixed amortization schedule. Funding is fast, flexible, and works in tandem with our client’s existing revenue cycle process. Provider Web provides funding amounts from $10,000 to $250,000 and higher. Please see further information on our website at: www.providerwebcapital.com or contact us at (855) 860-9700 FREE.