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Bethesda, MD is home to some of the best medical centers in the country. However, with a rising aging population and an increased demand for emergency procedures, Bethesda medical centers are relying more on medical suppliers to keep them well-stocked. Because of this, Bethesda medical suppliers are under pressure to make sure they can fill orders and ensure there are no gaps in logistics.
Bethesda Medical Suppliers Are Going in Debt
In order to keep up with the high demand, Bethesda medical centers are taking out loans to provide local healthcare centers with the items they need. As with any traditional loan, Bethesda medical suppliers take on debt for the capital necessary to maintain inventory. Loans can place a severe strain on finances because a sizable portion of the revenue generated goes towards paying off the balance plus interest. As demand from local healthcare centers rises, Bethesda medical suppliers will have to take out more loans to get the capital they need to maintain and grow their businesses.
An Alternative to Loans
Instead of building up debt, Bethesda medical suppliers can create a renewable source of working capital with asset based lines of credit. Asset based lines of credit are structured around the value of vehicles, facilities, receivables, inventory, and more. This revolving line of credit can be accessed as needed, and does not negatively impact business credit ratings, or place debt on the books. As Bethesda medical suppliers generate more sales, increase their inventory, and grow, the amount of available capital also increases. This allows suppliers to meet the large orders placed by healthcare centers in Bethesda, MD and the surrounding regions.
Unlike single-purposed loans, asset based lines of credit can be used for anything, from advertising to hiring staff, purchasing materials, moving into larger facilities, and much more. Asset based lines of credit help to promote growth and allow Bethesda medical suppliers to maintain their vital role in the local healthcare industry.
CNH Finance offers asset based lines of credit to all businesses in the Bethesda healthcare industry. Our team will perform an in-depth analysis of your assets, unlocking the value of items frequently overlooked by banks and other lenders. If your business could use a renewable source of capital without the burden of debt, contact our offices today.