RCN Capital recently launched a new financing program for ticket brokers, and the response to this program has been extremely positive. This financing option is the first unsecured form of financing offered by RCN Capital. Prior to this product launch, RCN Capital provided brokers with two primary forms of financing: A) a revolving line of credit using equity in real estate as collateral, and B) a transaction oriented financing program using the actual tickets in a given transaction as the collateral. Both programs continue to thrive as RCN Capital now also offers another line of credit that is unsecured. All current offerings are designed specifically for professionals in the secondary market with multiple ways of providing flexibility to suit the needs of ticket brokers. Numerous brokers nationwide are pre-approved for this new product.
This unsecured, revolving line of credit provided by RCN Capital is available up to $100,000. There are absolutely no pre-payment penalties associated with this product which gives brokers an efficient way of using funds and paying them back quickly if they choose to do so. Credit scores determine the rate for this financing, and sales along with inventory levels determine the amount of credit available. Payments will be made to RCN weekly via ACH draw over a six month period.
Brokers can benefit from this product in a variety of ways. RCN Capital provides very rapid disbursement of funds, options tailored to the specific needs of the broker, and a close relationship with the manager operating the program. Having funds readily available can enable brokers to quickly take advantage of opportunities that may present at any point in time. The absence of pre-payment penalties gives brokers the ability to quickly pay down an entire balance to minimize costs if they choose to do so. This is a product designed to work closely with, and specifically for, brokers in the secondary ticketing industry.
Interested brokers should immediately contact RCN Capital. The total amount of funds available for this program remains fixed and brokers are quickly drawing from the amount available.
Dave Young, Manager of Ticket Financing, manages RCN Capital’s financing program for pre-qualified broker buyers to purchase ticket inventory from teams, universities, and venues. You can reach him at [email protected], or 860-533-4049 x1672.
Last Updated on November 5, 2014 by By Dave Young, RCN Capital