2016 Strong Originations; Expansion of Underwriting Team
Atlanta, GA —
Provider Web Capital is pleased to report strong originations for the month of January, with a 125% growth in monthly originations from January 2015. Of note, Provider Web was able to fund the following transactions:
- $250,000 to an Montgomery-based doctor for working capital
- $100,000 to a California-based addiction recovery center for expansion
- $75,000 to a physical therapist based in Texas to stabilize cash flow
- Additional capital to a durable medical equipment provider for business expansion
When asked about this incredible growth rate, Provider Web Chairman Chris Stenglein commented that, “We here at Provider Web are elated with the recent monthly numbers. Not many lenders in our industry can boast such impressive growth rates. Combined with the expansion of our staff and a foray into servicing new industries within the healthcare sector, Provider Web is poised to continue this growth for the near foreseeable future. Our portfolio has become more broadly diversified as our growth continues, allowing us more flexibility and ability to take on risk that we otherwise couldn’t in the past.”
Provider Web Capital is excited to announce the recent addition of Scott Henson as Vice President for Underwriting & Portfolio Management. “We’re very happy to add Scott to the Provider Web Team,” Mr. Stenglein commented, “We know that his years of experience working with other funders will translate well to Provider Web and help continue our overall goal of originations growth.” Mr. Henson previously served as the Vice President of Risk Management for GBR Funding; before that, he worked as Director of Underwriting for Advanceme, Inc., a merchant cash advance firm based in the Atlanta area that has since been acquired by CAN Capital.
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.