Private Ambulance companies need cashflow solutions like anyone else. Our underwriters are experienced in assisting private ambulance businesses with the appropriate funding solution.
Operational demands, such as payroll, are a fantastic reason for cash flow financing. In addition, upgrading premises, refurbishing, additional staff or stock can give you greater earning power allowing you to examine your cash flow financing options.
Your dedicated private ambulance account manager will be able to help with your cashflow funding.
What is Private Ambulance Finance?
Private ambulance finance is a cashflow stop gap until your customer settles their bill with your business. Short term cash restrictions within the NHS mean suppliers are being paid later and later, despite the fact that contract regulations insist that public bodies, such as the health service, are to pay their non-NHS suppliers within 30 days.
We understand your industry and the challenges you may face. The private ambulance sector can be lucrative and demand is high. Yet many operators find it hard to maximise their growth potential due to cashflow limitations. that is why we are here to help with finance for your business.
Types of finance for Private Ambulance firms
Whether you are already running your own private ambulance business or considering starting up, we can help you find the right type of funding option to help you build your business:
We can help you secure the following types of business finance.
Invoice Factoring – Invoice factoring for private ambulance firms is when a business sells its invoice to a third-party company. It’s a form of invoice finance and will give your business an effective way to improve its cashflow position.
The invoice factoring provider provides the credit control service to recover payment of the unpaid invoice. Invoice factoring companies allow you to release cash from your unpaid invoices quicker than having to wait between 30 to 90 days – and sometimes up to 120 days – for your customers to pay you.
Invoice Discounting – Invoice discounting for ambulance companies is an invoice finance facility when a company’s unpaid invoices are used as collateral for a loan. Invoice discounting companies enable businesses to leverage the value of their sales ledger.
With an invoice discounting company, when sending out invoices to customers a proportion of the total amount becomes available from the lender, which provides your business with a source of working capital throughout the month while you wait for the payment of your invoice to be processed.
The benefit of invoice discounting is you maintain responsibility for your sales ledger as well as your payment chasing and invoice processing. The main difference between this method and invoice factoring is that your customer is not aware that you have taken on cashflow finance. If you prefer to keep the financial arrangement confidential from your customers then invoice discounting may be the right product for you.
You no longer have to wait up to 120 days to receive payment for your goods and services, and you remain in charge of your own credit control processes, meaning that you continue to chase late payments and therefore your customers are not made aware of our involvement.
Business Loans for Private Ambulance Companies – A business loan for a private ambulance company offers you a convenient, low-cost way to finance your business activities. This type of loan can be used for almost any business purpose, such as boosting cash flow, purchasing equipment, recruiting staff and covering unexpected bills.
Small business loans provide a simple, low-cost way to borrow for your business. You can borrow for working capital, growth or expansion, and you’ll get fixed monthly repayments so you can plan with confidence. Our experienced team and our innovative application process mean you will get a decision on your business loan in as little as five hours, so you can focus on running your business.
With interest rates from 1.8%-7.4% APR, no upfront fee, and no repayments or interest to pay for the first 12 months, small business loans can be much more affordable than a business overdraft or a business credit card. You can also take an unsecured loan without putting down property or assets as a security, and there’s no fee if you want to pay off your loan early in one go.
The Benefits
- Released cash in 24 hours after invoices are raised
- Receive up to 95% of the invoice amount
- Credit control can be fully managed or confidentially kept in-house
- Improves working capital cash flow for your business
- Negotiate better terms with your suppliers
- Bad Debt Protection (BDP) can be added to protect against non-payments
How Ambulance finance works
In general, for an invoice financing transaction to happen, there must be a factor, a debtor and an unpaid invoice. The factor is the financial institution that offers or agrees to buy business debt or unpaid invoices. The debtor is the client who owes money to a business in the form of an unpaid invoice. Lastly, the invoice is the document that shows transactions between a business and its clients.
Most invoice factoring companies in the UK pay in two instalments, the first covering the bulk of the receivables. The remaining amount usually 5-10% when your client settles their invoice, minus any factoring fee. A simple process of the invoice factoring agreement are as follows:
1. You deliver your goods or service and invoice your customer as normal.
2. You send us a copy of the invoice (uploaded via our online portal).
3. We make available up to 90% of the invoice value.
4. You decide how much you want to draw and we transfer funds into your bank account, same day.
5. When your customer pays the invoice, the balance (10%) is released to you.
Invoice finance only covers business to business transactions. Each factor will have their own set of conditions that determine whether a business is eligible, so the requirements for obtaining an asset based lending service will vary. Specifically, qualification may depend on the company’s turnover, and requirements will vary from industry to industry.
Types of ambulance business.
Emergency Ambulance Services transport accident victims and people with other emergency health issues to the hospital as quickly and safely as possible. They demand expensively-equipped vans that are on round-the-clock standby and ready for dispatch and are staffed by certified medical personnel. Equipment like defibrillators and monitors, oxygen and drugs will all need to be carried.
Non-emergency medical transportation requires far less equipment and crew skills. These vehicles often transport patients between medical facilities or take patients to and from appointments.
Get a Quotation Today
Over the years, we have funded a wide range of businesses from many different sectors; from ambulance services to hauliers, clothing manufacturers to recruitment agencies, new start-ups to long-serving businesses and market leaders.
No matter what sector the client is from, Invoice Funding are able to tailor specialised solutions that meet the needs of the business. With bank credit becoming harder to come by, it can be tricky for businesses to turn to merely renew or extend loans or overdrafts, without being faced with re-negotiated terms or demands for more personal security to be put at stake.
Should you wish to know more about any type of Cashflow facility that is available to your ambulance business, simply complete the online enquiry form.
Seasoned professional with a strong passion for the world of business finance. With over twenty years of dedicated experience in the field, my journey into the world of business finance began with a relentless curiosity for understanding the intricate workings of financial systems.