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The Receivables Exchange is a new capital market for privately held companies to gain quick access to working capital, just like the NYSE is designed for public companies.
The Exchange's proprietary online marketplace will bring together a global network of accredited Capital Providers with millions of growth oriented small and mid-sized businesses in search of capital. -
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List Receivables for Bidding
Companies list a single or multiple invoices to be auctioned on the Exchange, specifying how much money they are seeking and the fees they are willing to pay for the transaction. The settlement date is entered, stating when the funds will be re-paid.
Viewing Bids
A global network of accredited Capital Providers view and bid on listings that meet their preferences which often include industry, listing amounts, credit rating, transaction history and discount rates. -
Auction Closing
Auction bids are optimized by pre-selected preferences. Auctions close at end of business day and the highest bid wins. Funds are deposited the next business day after auction closing.
Auction Settlement
Upon collection of the receivable(s), The Receivables Exchange funds the accredited Capital Provider's account.
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Accounts Receivable Exchange to Use CT Lien Solutions Tools
A fledgling credit market that lets businesses trade accounts receivable has allied with the nation's largest provider of Uniform Commercial Code filings to help buyers perform due diligence and file liens on the sellers. The Receivables Exchange, a New Orleans start-up, said Monday that it is working with CT Lien Solutions, a unit of the Dutch data publisher Wolters Kluwer NV, to automate UCC processing, public record searching, and document filing.
read more »Fidelity Makes Bid for Online - Auction Glory
Venture arm quietly invests millions in Internet start-ups
Fidelity Ventures is hunting for the next eBay.
The venture capital firm, investing funds raised from affiliates of mutual fund giant Fidelity Investments, has been carving out a niche bankrolling Internet start-ups that connect buyers and sellers of everything from loans to receivables to airplane parts. READ MORE »Inc.com - Short On Cash? There's a New Way to Sell Receivables: on an Exchange
Keith Voigts has cash flow on his mind. As CFO of iSeatz, Voigts needs to make sure the $5 million company has enough cash to pay the bills. But New Orleans-based iSeatz has no collateral for a bank loan. And its customers sometimes take 90 days to pay up.
read more »BusinessWeek.com - New Orleans: A Startup Laboratory
Entrepreneurs are finding fertile ground for new ventures they think will help bring the devastated city back to life. In a fifth-floor penthouse office in the central business district, developers craft an online trading system to let companies sell their accounts receivable at a discount for cash. read more »USA Today - New Online Trading Biz Heads to Big Easy
When Nicolas Perkin was brainstorming his new online trading company last year, he considered launching it in New York or San Francisco. Instead, he went with an unlikely choice: New Orleans. read more » -
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