The NY Times reports on a new online market in which companies can sell their receivables: An Online Market for Selling I.O.U.’s
"Businesses getting pinched by the credit squeeze can now tap a new source of cash — by selling the money owed to them by other companies.
A new online marketplace, the Receivables Exchange, was formally introduced on Monday after 18 months in development. It allows companies to sell their outstanding receivables at a discount to a panoply of financial institutions."
Truth in advertising: I'm on their advisory board.
Monday, November 17, 2008
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2 comments:
Thanks for the post. In The Receivables Exchange blog, I discuss our strong belief that the national and global impact of the Exchange will help thousands of companies and millions of employees and their families achieve the American dream by providing flexible and competitive working capital to Main Street at the moment when Main Street needs it most. You can read the entire blog post here: blog.receivablesxchange.com
I encourage you to post a comment to let me know what you think.
I think you have designed a system that makes it easy for Sellers to commit fraud and easy for unwitting buyers, lulled into believing an amazing PR machine equals an amazing product, to be stolen from.
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