PRN Funding
PRN Funding LLC is a private, founder-owned healthcare invoice factor based in Beachwood, Ohio, founded in 2000. It advances 70-90% of invoice value within 24 hours to U.S. medical staffing, home healthcare, billing, coding, transcription, and medical supply SMBs, having funded over $2 billion cumulatively.
- Company typePrivate
- Founded2000
- HeadquartersCleveland, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What PRN Funding does
PRN Funding LLC is a privately held, founder-owned healthcare invoice factoring company incorporated in 2000 and headquartered in Beachwood, Ohio. The company exclusively purchases accounts receivable from U.S. healthcare businesses, advancing 70-90% of invoice value within 24 hours of verification and remitting the balance (minus fees) upon customer payment. Its core product, Healthcare Invoice Factoring, is delivered through a portfolio of vertical-specific offerings covering medical staffing, nurse staffing, home healthcare, medical billing and coding, medical transcription, medical supplies, private duty care, and hospice staffing, plus a spot factoring product and a referral broker program.
Revenue is generated primarily through transaction-based factoring fees, typically 1-5% of invoice value (with monthly discount rates of 1-6%), and higher fees on non-recourse arrangements where PRN absorbs bad-debt risk. Pricing is quote-based and not publicly disclosed. Go-to-market combines direct sales via phone and account managers, a self-serve online quote/application flow on the company website, and a partner-sourced channel including a factor broker program and dedicated integrations with eight healthcare vendor management systems (AMN Healthcare, ShiftWise, BlueSky, CareerStaff Unlimited, FocusOne Solutions, Medefis, RightSourcing, HealthTrust).
PRN Funding operates with a lean team of 1-10 employees led by founder and President Phil Cohen (Wharton MBA, former Boston Consulting Group and Medical Records Corporation executive) and Vice President Ryan Elliott (nearly 19 years of internal tenure). Its technology stack centers on the XEN loan origination platform, deployed in November 2025, which supports client onboarding, underwriting, and a client portal at prnfunding.xenplatforms.com. The firm is affiliated with the IFA and AFA industry associations and has cumulatively funded over $2 billion to healthcare companies since founding, marking its 25th anniversary in 2025.
PRN Funding firmographics
Firmographics- Name
- PRN Funding
- Legal name
- PRN Funding LLC
- Website
- https://prnfunding.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PRN Funding LLC is a private, founder-owned healthcare invoice factor based in Beachwood, Ohio, founded in 2000. It advances 70-90% of invoice value within 24 hours to U.S. medical staffing, home healthcare, billing, coding, transcription, and medical supply SMBs, having funded over $2 billion cumulatively.
- Ownership category
- akta.pro rank
PRN Funding industry classification
Industry- Product category
- Healthcare Invoice Factoring
- NAICS
- Sales Financing (52222)
- akta.pro primary industry
- Invoice Financing & Factoring (FSAKAGAC)
Keywords
Where PRN Funding is headquartered
LocationHeadquarters
- HQ city
- Cleveland
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
PRN Funding business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Invoice Factoring Fees: PRN Funding generates revenue through factoring fees charged on purchased invoices. Fees typically range from 1% to 5% of the invoice amount, depending on factors such as invoice value, sales volume, and customer creditworthiness. Discount rates can range from 1% to 6% of invoice value per month. The company purchases invoices from healthcare companies and advances 70-90% of the invoice value upfront, with the remainder (minus fees) remitted once the customer pays.
- Non-Recourse Factoring: PRN Funding offers non-recourse factoring options where the factoring company absorbs the risk of unpaid invoices due to customer insolvency. This premium service provides bad debt protection to healthcare clients and generates higher fees to compensate for the added risk assumption.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Invoice Factoring |
| Transaction based/ take rate | Pay-as-you-go | Non-Recourse Factoring (Bad Debt Protection) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
PRN Funding product offering
Product offeringCore offering
PRN Funding purchases unpaid invoices (accounts receivable) from healthcare companies and advances 70-90% of the invoice face value within 24 hours. The remaining balance, less the factoring fee, is remitted to the client once the customer (typically a hospital, insurer, or government payer) pays the invoice. Services are tailored to healthcare sub-sectors including medical staffing, home healthcare, medical billing, coding, transcription, hospice, and medical supplies.
Product overview
PRN Funding operates as a healthcare invoice factoring company offering a portfolio of specialized factoring services. The core offering is Healthcare Invoice Factoring, which serves as the umbrella service enabling healthcare companies to convert unpaid invoices into immediate cash. This core service is complemented by specialized industry-specific factoring products including Medical Staffing Factoring, Nurse Staffing Factoring, Home Healthcare Factoring, Medical Billing Factoring, Medical Coding Factoring, Medical Transcription Factoring, Medical Receivables Factoring, Medical Supplies Factoring, Private Duty Care Factoring, and Hospice Staffing Factoring. Additional offerings include Spot Factoring for single-invoice solutions and a Broker Program for referral partners. All services are designed for healthcare companies selling goods or providing services to medical facilities, with funding typically available within 24 hours of invoice verification.
Differentiator
Problem solved
Functional benefit
Products and services
- Healthcare Invoice Factoring Core accounts receivable financing product that purchases unpaid invoices from healthcare companies and advances 70-90% of the invoice value within 24 hours, with the balance remitted (less fee) upon customer payment. No long-term contracts and no monthly minimums required.
- Medical Staffing Factoring Tailored invoice factoring program for medical staffing agencies that need capital to pay placed clinicians while waiting on slow hospital and facility remittance.
- Nurse Staffing Factoring
- Home Healthcare Factoring
- Medical Billing Factoring
- Medical Coding Factoring
- Medical Transcription Factoring
- Medical Supplies Factoring
- Private Duty Care Factoring
- Spot Factoring On-demand, single-invoice factoring product for healthcare clients needing to monetize one invoice at a time without committing to a full ongoing factoring program.
- Broker Program Referral partner program for brokers and consultants who introduce healthcare clients to PRN Funding in exchange for commissions.
Quantifiable outcome
- Over $2 billion in funding provided to healthcare companies since 2000
- +2 more outcomes
Companies that use PRN Funding
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
PRN Funding technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature3 records
PRN Funding partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- XENcoreXEN is a loan origination platform. PRN Funding launched on the XEN platform in November 2025 to improve its sales and underwriting processes. The partnership aims to enhance client onboarding and deal flow. The announcement coincided with PRN Funding's 25th industry anniversary celebration.
- IFA (International Factoring Association)minorPRN Funding displays the IFA (International Factoring Association) logo on its website footer, indicating membership or affiliation with the organization.
- AFA (American Factoring Association)minorPRN Funding displays the AFA (American Factoring Association) logo on its website footer, indicating membership or affiliation with the organization.
- VMS Vendors (AMN Healthcare, ShiftWise, BlueSky, CareerStaff Unlimited, FocusOne Solutions, Medefis, RightSourcing, HealthTrust)corePRN Funding has dedicated pages and partnerships with multiple vendor management systems (VMS) used in healthcare staffing, allowing companies that work with these VMS platforms to factor their invoices through PRN. These include AMN Healthcare, ShiftWise, BlueSky, CareerStaff Unlimited, FocusOne Solutions, Medefis, RightSourcing, and HealthTrust.
Scale indicators3 records
Recent moves5 records
Expansion highlights4 records
PRN Funding competitors and assessment
Company assessmentDirect peers
- Fundbox: Fundbox provides SMB working capital through revolving credit and invoice-based advances. As the parent of altLine (a healthcare-active factor), it is a relevant peer for PRN's invoice-based working capital product targeting SMBs with delayed receivables.
- Porter Capital: Porter Capital is a Birmingham-based factoring and working capital provider serving staffing, healthcare, and other SMB verticals. It offers both recourse and non-recourse factoring similar to PRN Funding, and operates with the same direct-sales, account-manager-driven model.
- Paragon Financial Group: Paragon Financial Group is a factoring company providing accounts receivable financing to small businesses, including healthcare-related clients. Its transaction-fee revenue model and target SMB segments (staffing, services, suppliers) overlap meaningfully with PRN Funding.
- Liquid Capital: Liquid Capital is a North American factoring franchise network funding invoices for SMBs across verticals including healthcare and staffing. Its receivable-purchase model and broker-driven origination channel overlap with PRN's broker program and healthcare receivables financing.
- Riviera Finance: Riviera Finance is one of the largest U.S. factoring specialists serving small businesses across verticals including staffing and healthcare providers. It competes with PRN Funding in invoice-purchase-based working capital, particularly with staffing and service SMBs facing long payment cycles.
- altLine | The Fundbox Company: altLine provides invoice factoring and lines of credit to small and mid-sized businesses across multiple verticals including healthcare. Its transaction-based receivables financing model and SMB client base position it as a direct competitor to PRN Funding's healthcare-focused factoring.
- TCI Business Capital: TCI Business Capital provides invoice factoring and asset-based lending to SMBs, including medical and healthcare staffing clients. Its product set (factoring, lines of credit, non-recourse options) directly overlaps PRN Funding's receivable-based financing model.
- BlueVine: BlueVine is a technology-enabled SMB invoice factoring and working capital platform offering revolving credit lines and term loans. It overlaps directly with PRN Funding's core offering of converting unpaid invoices into immediate working capital for small businesses.
Others
- International Factoring Association (IFA): IFA is the primary trade association for the factoring industry in the U.S. and a membership body of which PRN Funding is a member. It is not a competitor but an ecosystem/standards participant relevant to how niche factors like PRN signal credibility and access industry resources.
Broad incumbents
- Stripe Capital: Stripe Capital offers cash advances and loans to merchants using Stripe payments, representing a technology-platform-driven approach to receivables-based financing. While broader than healthcare-only factors, its model of advancing capital against outstanding receivables competes for the same working-capital gap PRN Funding serves.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PRN Funding social profiles
Digital presencePRN Funding financial estimates
Financial estimateRevenue estimate
Valuation estimate
PRN Funding leadership team
Management profileNumber of profiles
Profiles2 records
PRN Funding funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PRN Funding M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PRN Funding
What does PRN Funding do?
PRN Funding purchases unpaid invoices (accounts receivable) from healthcare companies and advances 70-90% of the invoice face value within 24 hours. The remaining balance, less the factoring fee, is remitted to the client once the customer (typically a hospital, insurer, or government payer) pays the invoice. Services are tailored to healthcare sub-sectors including medical staffing, home healthcare, medical billing, coding, transcription, hospice, and medical supplies.
Is PRN Funding a public or private company?
PRN Funding is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PRN Funding founded?
PRN Funding was founded in 2000. It employs 1 to 10 people.
Where is PRN Funding based?
PRN Funding is headquartered in Cleveland, United States, in the North America region.
How does PRN Funding make money?
Two revenue lines are on record. Invoice Factoring Fees are the primary driver. The others are non-Recourse Factoring.
Who are PRN Funding's main competitors?
Direct peers on record are Fundbox, Porter Capital, Paragon Financial Group, Liquid Capital, Riviera Finance, altLine | The Fundbox Company, TCI Business Capital and BlueVine. International Factoring Association (IFA) is listed as an others. Stripe Capital is listed as a broad incumbent.
Does PRN Funding have an API?
No public API is recorded for PRN Funding.
What industry is PRN Funding in?
PRN Funding's product category is Healthcare Invoice Factoring. Its primary akta.pro industry code is FSAKAGAC, Invoice Financing & Factoring. Its NAICS code is 52222.