MANCHESTER, Conn., Feb. 19, 2013 -- CBAC, an innovative invoice financing exchange that provides working capital to small and medium sized businesses, has announced a new bidding platform. Their plans to open their new platform in March of 2013 means providing an opportunity for factoring companies to become a part of its Beta Launch program. This will allow companies the chance to not only take advantage of CBAC's powerful bidding platform and nationwide reach, but select companies will also be able to provide feedback on the platform in order to make it the most well rounded, user friendly and innovative auction bidding platform for use in the invoice financing arena.
Businesses can utilize CBAC as an innovative invoice financing marketplace where they submit invoices for factoring companies to purchase. Their marketplace supports several types of auctions including invoice factoring, invoice discounting, and spot factoring. CBAC provides factoring companies with new opportunities to help businesses raise capital while factors compete against each other to provide the best cost of money for CBAC members.
Invoice Factoring has grown into not only a way for companies to handle Accounts Receivable but also as a viable way to finance a small business. CBAC has placed itself at the forefront of this growing field in terms of bringing together both clients and buyers through an auction platform which aims to deliver the best prices and to connect clients to the perfect buyers. Their plans to expand and enhance their auction platform will take on not only what has already been learned about this field, but also reaches out to associate companies in order to develop and then deliver the best auction platform to buy and sell invoices and accounts.
CBAC plans to launch their new platform on March 1, 2013 and is currently looking for companies to work with them throughout their Beta Testing phase. This phase will allow companies to test out the platform, evaluate its effectiveness and ease of use and then provide both feedback on the system as well as suggestions they may have for increased ease of use or marketability. This bidding platform innovation will keep CBAC and their associate companies at the cutting edge of the Invoice Financing industry. For more information, or to apply to become a part of the CBAC Partners program please visit https://cbacfunding.com/partners.
CBAC is a start-up company based out of Manchester CT that connects small to medium sized businesses that are in need of immediate capital to factoring companies by the way of an innovative online exchange. Businesses complete a short application and upload unpaid invoices then factoring companies compete against each other to provide the business with the best pricing for their accounts receivable.