Invoice Financing Marketplace Launches New Factoring Brokers Platform
Manchester, CT (PRWEB) July 03, 2013 -- CBAC LLC, an invoice financing exchange for businesses to sell unpaid invoices to companies using an online auction-type system, has launched its new factoring brokers platform.
The new area of service allows brokers to add their clients to the invoice factoring exchange to generate better rates and more conversions. More than 40 factoring companies compete in every auction, opening up a wide market for brokers and their clients.
“We are very pleased to launch the new factoring brokers platform of our invoicing financing marketplace,” said Andrew Cravenho, CEO of CBAC LLC. “This is a great opportunity for brokers to get much better rates for their clients, while avoiding the back-and-forth of trying to find the best factoring company. CBAC takes care of the most difficult tasks, all in one platform.”
To get started, brokers are invited to complete an application, which is approved immediately. Brokers can then submit their clients’ information and start an auction of their own, with CBAC acquiring credit reports for both the client and its debtors. At that point, factoring companies start competing against each other, lowering the rate for the client while providing an opportunity for higher rates of success.
Once the broker and client approve the rate, the factoring company delivers the necessary paperwork to get the process started, with brokers earning a 10 percent commission on all factoring fees collected. CBAC also delivers quotes within 24 hours.
“This is a completely free-to-use platform that allows brokers to provide a whole new service to their clients,” said Cravenho. “There is an entire marketplace of factoring companies ready to compete for your clients’ invoices. With this level of competition, you’re essentially guaranteed to get the best rates and conversions possible.”
CBAC is a business-to-business financing company that allows organizations to obtain immediate capital through unpaid invoices. The company offers better-than-average rates on its invoice financing, providing its clients with a significant advantage compared to other lending institutions.
Brokers interested in learning more or filling out an application should visit https://cbacfunding.com/brokers.
Frank Myers, CBAC LLC, https://cbacfunding.com, 877-769-1469, [email protected]
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