Leading UK invoice finance firm Optimum Finance has launched a support service designed for firms in the healthcare sector called Optimum Medic.
Optimum Medic is a specialist invoice finance service designed for businesses supplying the healthcare, medical and pharmacy sectors in the UK.
The new initiative comes on the back of a Covid-19 support package for SMEs launched last month by Optimum finance, the Bristol and London-based invoice finance and fintech firm.
Companies which supply or manufacture in the pharmacy, medical or associated healthcare field can apply for, and receive funding within days from cash tied up in unpaid invoices.
The application process takes minutes and can be done completely remotely through Optimum Finance’s web app.
Businesses will be asked to input basic commercial information to receive an instant offer within minutes. The Optimum Finance team has also created a specific online calculator, which shows how business costs can be saved by using invoice finance to give company owners a clear picture of how they can change their financial position through the pandemic.
Using invoice finance funding can be cost-neutral when taking into account costs associated with credit management, in-house admin resource, delayed payment and bad debts.
Commenting on the new package, Richard Pepler, CEO at Optimum Finance said: “The strain on those businesses which supply or manufacture for the healthcare and medical sectors during this time is unparalleled to anything we have experienced before.
“Unfortunately, there is no magic wand to help every company facing hardship, that is why we are focused on supporting many businesses with measures that can help with long-term survival.
“The healthcare sector is currently the lifeline and backbone of the country in tackling coronavirus and we are incredibly proud to be offering a specific service to these businesses.”