$5MM Credit Facility
The Company is a medical transportation company providing a comprehensive list of services that include critical care transport, basic life support, non-emergency and wheelchair transportation, and event standby services. The company’s customers include government agencies, hospitals, nursing homes, specialty healthcare facilities and dialysis centers.
Due to the combination of a rise in fuel costs and a projected increase in business from new contracts, the company required an infusion of working capital to meet the increased costs and demand for service. Considered a start-up, they were not bankable.
Despite facing the difficulties of being a newcomer to the transportation industry and facing the high cost of fuel, the company had new licenses and contracts with projections for increased revenue and profits within the year. Business Capital understands the challenges that emerging small businesses face, as well as opportunities and was able to successfully underwrite this credit by presenting the full scope of their situation to credit committees to secure intelligently structured and affordable financing for the client.