Who does a business owner turn to for financing when he/she has been turned down for business loans due to a personal bankruptcy?
Business Week columnist, Karen Klein, tackled this question earlier this month (Landing a Business Loan After Bankruptcy). Noting that it’s hard for entrepreneurs to get startup capital in general, Klein said it’s even harder to get bank financing now because banks have tightened their lending standards.
Although Klein suggested asking friends, family and/or other strategic investors to put a monetary interest in the new business, she also recommended accounts receivable factoring. PRN Funding couldn’t agree more with this advice!
For nine years, PRN Funding has been able to provide healthcare staffing funding, medical transcription invoice factoring, and medical coding accounts receivable financing to numerous clients who have had less-than-perfect credit. These healthcare vendor clients know that PRN Funding extends credit based on their customers’ ability to pay, rather than the business owner’s personal credit.
Check out some of PRN Funding’s client success stories to see just how PRN Funding’s accounts receivable factoring program was able to help.
6 Replies to “Landing a Business Loan After Bankruptcy”
Business cash advances are emerging as one of the few effective working capital financing options for small business owners. Because the practical use of this specialized small business financing approach is probably misunderstood by most commercial borrowers, we published a report providing a series of seven-word descriptions about merchant cash advance services.
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