Kestrel Technologies completes receivables trading platform for the New Orleans Exchange

Kestrel Technologies completed the first phase of an internet-based platform that powers the New Orleans Receivables Exchange. This new marketplace enables the buying and selling of accounts receivables in real time, effectively providing an automated alternative to traditional factoring and transforming the way small and medium-sized companies can gain immediate access to working capital.

Kestrel’s implementation functions similarly to an online auction system:

• Pre-qualified companies list their commercial invoices on the system and stipulate minimum term requirements.
• To find invoices to bid on, accredited capital providers can sort the listings by industry, amounts, credit ratings, fees and other data.
• Companies with successful listings ain immediate access to a portion of the invoice value, as defined by the terms of the winning bid.
  
  

Future phases of the project will enable the New Orleans Exchange to handle equipment leases, purchase orders, insurance contracts and other assets that are not traditionally traded.