Understanding Financing Alternatives

Managing working capital just got easier.

The Receivables Exchange's Corporate Receivables Program gives companies increased flexibility in managing working capital via receivables sales, access to diverse funding sources, off-balance sheet benefits, reduced complexity and time to market, and competitive cost of capital. The process lowers Days Sales Outstanding (DSOs) to as little as one day and allows companies to tap into a broad network of Buyers.

The Receivables Exchange vs. Other Financing Sources

	TRE	A/R Securitization	Direct A/R Sale	Commercial Paper	Revolving Bank Line
Complexity & Structuring Cost	Low	High	Moderate	Moderate	Low
Auction Based Pricing	Yes	No	No	No	No
Off Balance Sheet / True Sale	Yes	Unlikely	Yes	No	No
Recourse	Limited	Limited	Limited	Full	Full
Transaction term < 90 days	Yes	Yes	Yes	Yes	No
Obligation to transact or inactivity fees	No	Yes	No	Yes	Yes