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Standing Strong Without a Signature
How a Multi-Clinic Rehab Provider Eliminated Personal Guarantees and Secured $500K in Growth Capital
Client Overview: Some information may be obfuscated or generalized to preserve client privacy
An 11-year-old outpatient physical therapy group was thriving in patient outcomes but hamstrung by expensive debt and a thin credit file. With Harvest’s intervention, the company built a robust EIN-based credit profile, secured $500K in expansion funding, paid off a crippling MCA, and became lender-ready with no personal guarantees—paving the way for two new clinics and improved insurance network positioning.
Client Profile:
Business Name:
P*** M***** T*** & R****
Industry:
Multi-Provider Outpatient Physical Therapy & Rehab Clinics
Years In Operation:
11 years
Ownership Structure:
S-Corporation (Founder 70%, Partner 30%)
Employee Count:
29
Gross Revenue:
$8.64M
Net Margin:
11%
EBITDA:
$460,000
Financing Profile:
$275K Equipment Loan ($110K remaining), $100K PG LOC, $85K MCA @ 31%
Challenges Presented:
- Business growth constrained by high-cost MCA repayment
- Loan applications denied due to weak commercial credit
- All financing tied to founder’s personal guarantees
- Billing cycles delay cash flow, hindering expansion
Key Objectives:
- Establish EIN-based credit and remove PGs
- Consolidate MCA and improve debt structure
- Secure $500K expansion funding for new clinics + van
- Improve positioning for audits and credentialing
Actions That Drove Change
EIN Credit Activation
Registered with bureaus and opened 5 EIN-only trade lines
Cost of Capital Optimization
Replaced MCA and consolidated debt with 5-year fixed loan
Corporate Compliance Overhaul
Standardized filings and implemented credit-reporting SOPs
Capital Access Packaging
Prepared fundable profile and insurance credentialing packet
Results After 120 Days
Credit scores improved to 80 PAYDEX / 76 Experian
Lender-grade profile enabled future expansion planning
MCA paid off, replaced with structured loan at 8.1%
Freed up monthly cash flow for growth & operations
$300K line secured with no personal guarantee
Reduced founder's liability to zero on new funding
Net-30/45 terms achieved with key vendors
Improved inventory cycle and lowered upfront costs
Resources For Manufacturers
Commercial Contracting
Fleet Expansion - 27% Increase in Revenue in <6 Months
Commercial Contracting
Fleet Expansion - 27% Increase in Revenue in <6 Months
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