Our deal flow falls into two categories: B2B and government receivables. We assess each on the strength of the obligor, the party who pays the receivable.
Trade receivables owed by commercial buyers to sellers of goods and services. The SPV purchases them at a discount, after Intero assesses the obligor risk.
Invoices owed to a producer or distributor by a national retailer, typically on 30 to 90-day terms. Risk is assessed on the retailer as the obligor, not the seller. Invoices can be sold one order at a time or on a revolving basis against pre-approved retail obligors.
Invoices owed to a component or materials supplier by a tier-1 manufacturer under an ongoing supply agreement. Payment follows delivery and acceptance, on terms set by the manufacturer. The SPV purchases invoices as they are issued, within limits agreed for each approved manufacturer.
Receivables due from federal, state and municipal government. Payment derives from a formal contract, program or tax filing. After Intero assesses the obligor risk, the SPV purchases contract receivables, or the proceeds of a tax credit or refund claim, at a discount.
Payments due to a business for goods or services supplied under a government contract. Federal contract assignments are structured to comply with the Assignment of Claims Act, including notice to the contracting officer.
Refundable and transferable tax credits and government refunds, sourced from a closed network of professional service providers. The SPV purchases the right to the cash proceeds once paid to the seller. The claim against the government is not assigned, and the government pays the seller as usual. Transferable credits are monetized through a permitted transfer of the credit itself.
When strong counterparties owe you revenue, selling those receivables takes the place of a credit facility or a funding round. We analyze your debtors book and confirm eligible obligor suitability. The SPV can then purchase receivables on a revolving basis as you invoice, within agreed limits.
Structured as a sale, with existing lender consent where required
No shares issued, no new investor rights
Credit assessed on the paying party
Capacity grows with receivables generated
Obligors approved against your credit criteria
Available to eligible parties under NDA
Tied to a defined payment from a known obligor
Serviced and reported by Intero through to settlement
Simplified illustration. Sale proceeds reflect a discount to face value. Terms, recourse and accounting treatment vary by transaction, and sellers should confirm treatment with their auditors.
A national retailer placed a seasonal order worth $24M. Producing it needed $8M of working capital before the first delivery. The retailer pays on 60-day terms, the company's bank line was fully drawn, and new equity was not an option the owners wanted.
Intero assessed the risk of the retailer, not the producer. An SPV purchased $10M of invoices due from the retailer at a discount. Each new invoice can be sold within agreed limits.
The company received $9.7M within five days. At 1.5% a month over the 60-day term, the discount was 3% of face value. It delivered the order on schedule. The retailer paid at day 60 as usual. With its bank's consent to release the receivables, the company kept its bank line and ownership in place.
The company won a $60M three-year federal contract. Delivering the first phase needed $18M of working capital up front. Its bank line was fully drawn, and an equity raise meant giving up a board seat and 15% of the business.
Intero assessed the risk of the government obligor, not the supplier. An SPV purchased $20M of receivables due under the contract at a discount, with notice to the contracting officer. Funding partners funded the SPV. Each new invoice can be sold within agreed limits.
The company received $19.25M within five days. At 1.25% a month over the 90-day term, the discount was 3.75% of face value. It delivered the first phase on schedule. The agency paid at day 90 as usual. With its bank's consent to release the receivables, the company kept its bank line and cap table in place.
Illustrative examples. Figures are hypothetical and do not represent a specific client or transaction.
Because we structure around the obligor, our addressable market extends across every sector below, and others as they arise.
Program descriptions are illustrative of current and anticipated deal flow and are not an exhaustive list of eligible transactions. Intero may introduce further receivable types as opportunities arise. Each SPV's funder agrees what it purchases.