Avoid the bank loan hassles and lengthy application process by applying for medical and health financing at MCC. Here are just some of the medical and health businesses MCC has provided unsecured business loans to:
Merchant: Hormone Therapy Facility
MCA Amount: $90,000
Highlights: Merchant Cash and Capital advanced $90,000 to a multi-location hormone therapy business located in Missouri. The business’s newest location has been in operation since 2010. Their extensive client base is predominately patients’ going through menopause and the facility offers services through intravenous injections. The business has medical doctors on site to perform these injections. The facility processes an average of $89,000 in credit card sales a month and an average of $135,000 in gross sales a month. The business plans to use their MCC funds for working capital for the upcoming slower winter months. This will be the facility’s first advance with Merchant Cash and Capital.
Merchant: Medical Practice
MCA Amount: $50,000
Highlights: A medical practice in Tennessee received $50,000 from Merchant Cash and Capital on an MCC diamond deal program. This MCC diamond merchant has been in operation since 1987, with the practice being at the same location in Tennessee since 1995. Though this is a good industry and a merchant with strong credit, this is not a deal without its problems. The medical practice shows significant losses for the past two years. However, this was explained to MCC as an audit that was performed by Medicare in 2010. The practice’s previous billing company and their misleading services caused the practice to owe health insurance giant, Blue Cross Blue Shield, a $200,000 reimbursement. The practice has been paying back $8,000 every month, and is now down to a $60,000 balance. The medical practice would like to use its MCC merchant cash advance as working capital. This will be the merchant’s first cash advance with MCC.
Merchant: Health Care Facility
MCA Amount: $42,000
Highlights: MCC is providing small business funding $42,000 to an eye healthcare shop located in Michigan. The shop offers optometry services as well as glasses to its customers. The merchant is looking to modernize its business through the purchase of new equipment, and some interior decoration. For the merchant, the solution was easy to see: a merchant cash advance from MCC in January 2012 would upgrade the facility and its equipment. This will be the merchant’s third advance with MCC.