Fast Business Lending Strategies for the Change Healthcare Cyberattack

The cyberattack that occurred in February 2024 crashed Change Healthcare, a subsidiary of Optum, which created a backlog of unpaid claims. This has left several doctors’ offices and hospitals with serious cashflow problems—threatening patients’ access to care. CEO, Andrew Witty said the company paid $22M ransom to protect patient data in Change Healthcare cyberattack. China is the link to the Change cyberattack. (Source: Energy and Commerce Committee House.gov)

Florida Doctors’ Offices Accounts Receivable

Many medical providers accounts receivable and personal credit tanked due to the Change Healthcare cyberattack, the uncertainties of when they will get paid by the insurance companies and also when the medical billing companies will get paid by the doctors’ offices who were infected by the Change cyberattack. It has been months for many doctors’ offices and medical billing companies who are still struggling with their accounts receivable payments because of the Change Healthcare cyberattack.

Quick Business Lending Fixes

A list of super quick fixes during a national cyberattack like Change Healthcare to keep your business afloat and credit afloat, until the dust clears.

1. A micro business loan that can close within 48 hours, it is a quick flip that is not intended to keep for the full duration of the term. This micro business loan has the option to renew at no cost, if necessary.
2. A fast and easy no income verification SBA loan for $50,000, this loan can close within less than five business days.
3. SBA Express up to $150,000, a two week turn time.

Maintain Business Credit Report

Business credit reports are analyzed by lenders more than you know. Conversations about personal credit is more common than conversations about business credit scores. Business credit reports are necessary to maintain, especially if you are applying for SBA as your financing strategy, since many lending institutions utilize the SBSS credit score model.

 

For more information on how this Florida boutique firm can help you with your non bank business credit and business credit report please fill out the online contact form about your concerns or give us a call at 239.260.4602. Read what our valued clients have to say about First Pro Capital and Credit Consulting Experts on our Testimonials page.

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