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"We provide electron-level transparency," says Nic Perkin, a co-founder of The Receivables Exchange.
The Receivables Exchange, launched in New Orleans in 2007, enables investors to buy up invoices, or fractions of them, owed to small businesses.
"They can no longer think of it as some bank's problem, not theirs," says Caitlin Long of Morgan Stanley's corporate-strategies group.Another new form of invoice-based financing is the Receivables Exchange, an 18-month-old electronic market on which firms can sell invoices to institutional investors.
The Receivables Exchange.
The Receivables Exchange says customers typically get 98 to 99 cents on the dollar.
"This business has been offline for close to 200 years," says Receivables Exchange cofounder and president, Nicolas Perkin.
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The indictment, filed Mr. Ryan, the assistant United States attorney, said they then sold those "debts" for $3.7 million to companies that are in the business of advancing a portion of money owed on an account receivable in exchange for the right to collect the entire amount.
The United States Patent and Trademark Office (USPTO) today announced that it has issued a US Patent IPP # 8234209) to TriCap Technology Group which designed, patented, owns, and operates the ARxChange platform, a first-of-its-kind market exchange for receivable disposition.
In exchange for its receivables, ICN takes stakes in businesses there -- businesses whose future ICN presumably has less influence over than its own.
Aztec Exchange Dublin Finances receivables for developing-world suppliers based on strength of their U.S. corporate buyers.
NCFE and firms like it agree to take on the receivables of health care providers in exchange for upfront payments on outstanding medical claims.
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