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09-16-2016, 11:28 AM #1
Insurance to cover funders losses on defaults
What's up guys.
Been some time since I have posted on here since leaving the industry, but wanted to share something very interesting we are working on at the new place.
We are in the process or rolling out an insurance product specifically for the MCA industry that funders can use to protect themselves against defaults from the receivables they have purchased from merchants.
There has been quiet a lot of due diligence done on this project, and as far as we know, it currently does not exist in the market.
A funder would be able to purchase a blanket policy that would pay out the remaining balance of the RTR to the funder in the event a merchant defaults or is not able to deliver remainder of the purchased receivables. I can provide more details for those of you who are interested. But we are looking to test out the product, currently have 2 companies that I approached before the product was ready and they expressed serious interest...obviously.
If this is something that you guys would like more details on or chat about, feel free to reach out. Could be a game changer in terms being able to obtain lower rates from your investors and being able to be more competitive on factor rates.
PM me if interested.
All the best,
Alex
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