What is The Receivables Exchange?
The Receivables Exchange is an online marketplace for selling your accounts receivable. It is an alternative to traditional funding options, giving you better rates, terms, and more control over the process.
FAQs
How long does it take to get funding?
Once approved as a Seller, cash can be available in 24 hours.
How often can a Seller use the Exchange?
As often as you like.
How long will it take for me to receive the Advance Amount?
The Seller will have access to the funds the next business day after a bid is accepted.
How long does it take to become approved as a Seller and be eligible to post receivables?
The approval process takes an average of 1-2 weeks, depending on the Seller’s ability to provide the requested documentation to The Receivables Exchange.
Is there a maximum permissable receivable term?
A receivable must have a term of 90 days or less.
What if my business doesn’t have a long credit history?
One of the tremendous benefits of The Receivables Exchange is that our Sellers are able to leverage the credit-worthiness of their best customers. For example, if you are a small business that is only two years old but has Fortune 500 companies as customers, your receivables will be evaluated by the Buyers based on the higher credit rating of your best customers.
What happens if my customer doesn’t pay their receivable?
Sellers are bound by a Repurchase Obligation that requires the Seller to repurchase the receivable should the customer not pay.
Is there a minimum amount I need to meet in order to use The Receivables Exchange?
There are no monthly minimums. We only require that each time a seller posts invoices they be bundled totaling $10,000 or more. Single invoices above $10,000 are, of course, also fine.
How do I become a Seller?
Businesses interested in becoming a Seller need to complete the online Seller application. Sellers are required to pay a one-time $500 registration fee upon application submission.