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RX Fund Assist™ Joins NCPA

By | Funding

Rx Fund Assist specializes in providing financing solutions and consulting services for pharmacists and independent pharmacies. The team at RxFund Assist™ includes seasoned pharmacists who are experts in the fields of pharmacy practice and management and financial professionals with more than 50 years of financial expertise.

What are the uses of working capital?

By | Funding

One of the reasons why working capital is so important is that it can be used in so many different ways that are virtually critical to the survival of the business. It represents an essential source of capital particularly during those times when business revenue isn’t fully covering business expenses. For example, working capital can be used for any of the following expenses:

  • Purchasing inventory – especially when it needs to be acquired before an expected busy season
  • Hiring new employees – the expense of new employees typically precedes the revenue they will generate
  • Payment of taxes – whether your revenues are high or low, taxes must be paid when they’re due; you may need to pay them out of working capital if business revenue won’t cover them

These are just three examples of how working capital can be used, there are many, many more. You should think of working capital as being money available when business revenue isn’t.

How your working capital can benefit your business

A healthy working capital position is absolutely critical to the survival of any business. Benefits of having healthy working capital include:

Ability to weather short-term rough patches. All businesses experience seasonal fluctuations in cash flow; working capital enables you to even out the business cycle.

Ability to grow your business. Working capital could enable you to purchase inventory for a new product line that will enable you to expand sales.

Ability to acquire new income generating assets. This could be a new computer system, a more sophisticated communication system, or processing equipment that would enable your business to operate more efficiently or increase your income.

Buying out a partner. Many businesses today are service-oriented, and not capital-intensive. A few thousand dollars might buy out of business partner; it’s usually better to do that out of working capital, than by taking on long-term debt.

Sources of working capital

There are various ways that business can acquire working capital:

Additional business owner capital. If the business owner has financial assets outside the business, he or she could contribute cash or other short-term assets to the business. This can include the proceeds of personal loans, such as from credit cards or a second mortgage on a personal residence.

Bringing in new investors. A new investor can make a cash contribution that will immediately increase current assets, and provide working capital. The disadvantage is that the original owner will be giving up both equity and profit share, as well as control.

Sale of business assets. This can raise working capital, but it also has the potential to hurt future cash flow, as that asset will longer be available to generate revenue.

Business loans. This is usually the preferred route to acquire working capital. In fact, many businesses have relationships with certain lenders that enable them to take loans for working capital on an ongoing basis. You can check out your lending options by  CLICKING HERE.

However you acquire working capital, make sure that you always have source. You can never know when your business income will fall, or your expenses will suddenly rise.

Working capital will allow your business to continue and to grow no matter what happens.

One way to ensure a healthy and strong working capital is by collaborating with a suitable lender that has the strength and financial immunity to offer ongoing cash flow to fit your needs. CORPORATE CAPITAL DIRECT  offers creative working capital solutions for all business types.

Corporate Capital Direct Goes National with Pharmacy Funding Program

By | Funding

Corporate Capital Direct, LLC, a commercial finance firm, announced the national roll out of its medical funding program, Rx Fund Assist.

Rx Fund Assist, historically a regional proprietary funding platform, announces two new additions to its executive board, helping transform the division into a nationally recognized, critical issue solution service for independent pharmacy owners.

Recognizing the challenges facing the retail pharmacy industry, CCD has aligned Rx Fund Assist financial expertise with Jason Melachrino PharmD, MBA, CPh and Jonathan Mordis PharmD, CPh; two expert pharmacists with exceptional track records in building, running and selling pharmacies.

Rx Fund Assist interfaces directly with pharmacy owners searching for capital to assist with daily operations or who are looking to expand.

“Over the last 20 years I have witnessed firsthand the financial stresses related to reimbursement issues, capital demands related to rapid growth trajectory and unmanageable supplier credit situations, and by applying this knowledge individually to each of our clients allows us to search and offer the most effective finance tools and terms for independent pharmacies,” said Mordis.

Melachrino, PharmD, MBA, CPh, Partner VP of Pharmacy has over 20 years of intimate knowledge in a variety of settings in the pharmacy field; through consulting, compounding, retail, administrative and business development.

“In today’s rapidly changing pharmacy landscape, it is more common than ever to fall into cash-flow traps,” he said Melachrino. “We’ll not only help pharmacists negotiate this landscape but also avoid future predicaments through our interdisciplinary, consultative approach.”

Introducing RX Fund Assist™

By | Funding

Corporate Capital Direct, LLC, a leading commercial finance firm, introduces the national roll out of their medical funding program, Rx Fund Assist™, to independent pharmacies and medical practices providing a unique capital solution for operating costs and business development. 

Coral Springs, FL (October 29, 2018) – Rx Fund Assist™, historically a regional proprietary funding platform, announces two new additions to its executive board, helping transform the division into a nationally recognized, critical issue solution service for independent pharmacy owners.  

Recognizing the challenges facing the retail pharmacy industry, CCD has aligned Rx Fund Assist™ financial expertise with Jason Melachrino PharmD, MBA, CPh and Jonathan Mordis PharmD, CPh; two expert pharmacists with exceptional track records in building, running and selling pharmacies. “This brings expert perspective to help identify and resolve critical issues facing independent pharmacies,” said Rob Denton, Founder of Corporate Capital Direct and creator of RxFund Assist.

We chose the 2018 National Community Pharmacists Association (NCPA) Conference in Boston, which took place in October to release Rx Fund Assist.  The timing of this release was designed to specifically speak with suppliers along with over 3000 independent pharmacy owners. NCPA was instrumental in both explaining how Rx Fund Assist solutions can work for vendors who have clients experiencing hardship issues pertaining to payment terms or credit-lines. In addition, Rx Fund Assist interfaces directly with pharmacy owners searching for capital to assist with daily operations or who are looking to expand.

  “Over the last 20 years I have witnessed firsthand the financial stresses related to reimbursement issues, capital demands related to rapid growth trajectory and unmanageable supplier credit situations, and by applying this knowledge individually to each of our clients allows us to search and offer the most effective finance tools and terms for independent pharmacies,” says Jonathan Mordis, PharmD, CPh, Partner/VP Business Development.

 Jason Melachrino, PharmD, MBA, CPh, Partner VP of Pharmacy has over 20 years of intimate knowledge in a variety of settings in the pharmacy field; through consulting, compounding, retail, administrative and business development.

 “In today’s rapidly changing pharmacy landscape, it is more common than ever to fall into cash-flow traps.  At Rx Fund Assist, we’ll not only help pharmacists negotiate this landscape but also avoid future predicaments through our interdisciplinary, consultative approach. We are a company by pharmacists for pharmacists!”  – Jason Melachrino, PharmD, MBA, CPh

 Rx Fund Assist™ gives pharmacy owners solutions with the capital needed to navigate through managing inventory, equipment purchases, payroll, marketing, advertising, also providing prospective growth funds, so pharmacy owner/operators can focus on their business rather than their expenses.