“More than a year into the official recovery, small businesses face what some say has become a permanent legacy of the recession: Their vendors are demanding faster payment even as their customers are taking longer to pay. Companies with the least bargaining power get squeezed the hardest.”
Sound familiar? A recent article in Bloomberg Businessweek, which mentions The Receivables Exchange, describes the challenge that many small and midsize businesses face every day with stabalizing cash flow. The Receivables Exchange is mentioned as an innovative solution to the cash flow squeeze, allowing companies to sell receivables in an online marketplace for working capital.
The article quotes Exchange Seller Joe Reini, of Mason-Grey Corp., who uses the Exchange to handle longer payment terms from his customers. “It seems to me that ‘net 30′ is gone,” he says, “Customers are now asking for 45, 60, some are even asking for 90 or 120 days.”
Read the entire article here.
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