There was an interesting article that appeared in yesterday’s Wall Street Journal entitled: Asset-Based Lending Grows in Popularity. The reporter shared statistics that demonstrated how much more small businesses have been leaning on asset-based lending and invoice factoring in the down economy.
The reporter wrote: “Many small businesses that seek asset-based loans are distressed companies, or have spotty of short track records. Lenders tend to specialize in specific industries or lines of business, with an understanding of the particular collateral at stake.”
This is especially true of PRN Funding’s factoring services, as we only factor healthcare vendors who sell goods or provide services to healthcare facilities. PRN prides itself in understanding the various industries we serve: medical staffing, medical transcription, medical coding, private duty home care, etc.