The Receivables Exchange, a New Orleans-based online marketplace for real-time trading of accounts receivable, has launched Receivables Advisors Program (RAP), a nationwide program to establish Receivables Advisors in all 50 states to help small and midsize businesses to increase their short-term financing options.
Reportedly, Receivables Advisors will work independently in each state to connect eligible sellers to Receivables Exchange to help them tap into the available liquidity on the exchange’s centralized marketplace for receivables financing. As a part of the program, Receivables Exchange will provide Receivables Advisors with a commission-based compensation structure and provide them with sales and marketing tools, product training, and customer support and technical assistance.
The company has added that small and midsize businesses can sell their receivables on its online marketplace to a global network of major institutional investors.
Nic Perkin, co-founder and president of The Receivables Exchange, said: “The Receivables Advisor program was created to help even more companies to solve their short-term financing needs through our market-based solution that can provide a diversified source of liquidity at competitive rates.”
“Instead of the typical 50 days that most companies wait for their outstanding invoices to be paid, at The Receivables Exchange, companies can post their receivables one day and receive their funds the next business day. Suddenly, companies can increase their working capital in as little as 24 hours to quickly improve their cash liquidity, he added.
