Last week, the company also announced that it is now offering $5,000 per referral to those who introduce eligible businesses to its working capital marketplace.
Referral Partners can choose between two compensation options for their referrals: the existing option where commission is based on a referral’s trading activity on the Exchange, and the new option, a $5,000 lump sum payment for each referral. Referred businesses must trade at least once a month for three calendar months after their first trade for the Referral Partner to earn the $5,000 payment. Additionally, The Receivables Exchange is now offering $1,000 to Referral Partners who refer additional Referral Partners, when the new partner introduces a prospect to the Exchange.
“We’re excited to offer this incentive to help bring more companies to our online marketplace for working capital,” said Justin Brownhill, co-founder and CEO of The Receivables Exchange. “The Receivables Exchange has changed the business financing landscape by offering an innovative alternative for small and midsize businesses, which traditionally have had few options for raising capital. We are a working capital solution for businesses looking to take control of cash flow affordably, and without the constraints of traditional financing.”
Called the most innovative e-commerce company in the world for 2010 by The Wall Street Journal, The Receivables Exchange connects businesses that need capital to a global network of qualified institutional investors who compete to buy invoices via a real-time marketplace. The competitive auction format drives down the cost of capital for small and midsize businesses (by 30%, on average), giving them the affordable working capital they need, on their terms. Institutional investors can diversify their portfolios by purchasing receivables on the Exchange, and tap into a $17 trillion market for U.S. receivables.
You can register to become a referral partner here.