Founded in 2007 at Hauppauge, New York, ProMAC Financing offers fast and flexible alternatives to bank loans and factoring services to small U.S.businesses that offer medical and other professional services. ProMAC is the first finance company to provide electronic payment financing. This service funds against all types of electronic payments proceeds, including ACH; credit card receipts; and private and government health insurance reimbursements.
ProMAC provides an upfront lump sum cash purchase of a company’s projected electronic receivables as an alternative financial product to traditional loans, leases, receivable factoring and other business debt. ProMAC provides this service when it structures accounts receivables factoring deals. These transactions are provided on a non-recourse, unsecured basis.
Although ProMAC focuses on the medical and healthcare sector, the company considers any company that would typically seek receivables factoring as a good candidate for their new service.
Recent ProMAC financing transactions have been valued at about $10 million.