Auctions
How it Works
(e.g. anyone who owns a business or is self employed and deals with invoices.)
Event Flowers needed extra funds to buy a replacement
delivery van but also had to cover their employee wages
so there was no extra cash left in the business.
One of their regular customers, Company X, owed them £10,000 for a huge order but only pays quarterly and
were often late.
The bank wouldn’t offer them a loan due to a poor creditworthiness and they had no other borrowing
options.
So Event Flowers decided to place the £10,000
invoice on The Open Market Auctions and managed
to raise the cash they needed in just 3 days!
How it works for buyers
(e.g. anyone with extra cash who wants to invest in an ethical way.)
John inherited a large sum of money from a relative
and wanted to invest some of it in an ethically sound
way which would also give him quick returns.
He looked around at various offerings from the major
banks as well as some IFAs and found the options
limited and too high risk.
He was eventually advised by a friend to check out
The Open Market Auctions and decided to test the
waters by bidding for a low value invoice.
John won the auction, paid the winning amount, and a
month later got a 10% return on his investment whilst
helping a small business owner in need of funds.
