Alleon Healthcare Capital closed a $500,000 medical accounts receivable factoring facility with a New York City early intervention center.
The center is a nonprofit founded by a pediatrician, researcher and lecturer who is among the world’s leader in diagnosing and treating children with developmental disorders for more than 40 years.
Alleon was able to structure the transaction within one week as a factoring facility made up of medical receivables due from government health insurance payors with an advance rate up to 80% on eligible receivables.
“We were proud to help a company performing such a good service for children and families in this community. Due to the company’s fast growth, the company had to hire additional staff and it was important that Alleon be able to fund within one week so as to ensure the company was able to meet its payroll needs” said Ben Rutkevitz, vice president of Business Development at Alleon.
