The Receivables Exchange Funds Over $1 Billion to SMBs
The Receivables Exchange, an online marketplace for U.S. receivables sales, announced that since inception it has funded over $1 billion to small- and mid-sized businesses (SMBs). This milestone indicates that businesses are employing The Receivables Exchange’s working capital marketplace as an alternative to traditional lines of credit, and that the online market for receivables sales has become a major new source of business finance for SMBs.
The Receivables Exchange enables companies to sell their receivables to a global network of institutional investors, who bid in real time to purchase them at competitive rates.
“Access to capital is the lifeblood of any business. Receivables constitute the majority of working capital for American small businesses, which support 65 percent of private sector employees and 46% of business revenues,” said The Receivables Exchange co-founder and CEO Justin Brownhill. “When SMBs are able to finance their receivables quickly and affordably, it has a direct impact on economic growth and recovery. This billion-dollar milestone affirms our commitment to helping SMBs access the capital they need to help get the U.S. economy growing again.”