Receivables Exchange co-founder: Traditional lenders could become obsolete

Travel agents are becoming obsolete in the Internet age, says The Receivables Exchange co-founder Nicolas Perkin, and he thinks the face-to-face lending experience also is on the way out. “One, there’s not time for it,” he says. “Two, it’s not efficient, in terms of accessing the best possible price.” Perkin participated in a panel discussion with three other entrepreneurs at the Renaissance Baton Rouge Hotel today. The 10/12 Louisiana Entrepreneur Forum was part of Baton Rouge Entrepreneurship Week. The Receivables Exchange is an online marketplace where businesses can access working capital from people they’ve never met by selling their accounts receivable to institutional investors. “Our view is, that’s the future,” Perkin says. Panelist Richard Lipsey provided a counterpoint. “Banks still are the backbone of investment for starting small businesses in Baton Rouge,” he says. “If you don’t know your banker well, you’re making a huge mistake.” Each panelist was asked for a take-home point:
• Hector Alila, founding CEO, Esperance Pharmaceuticals: “Work with people who are smarter than you. Hire the best. And just keep going.”
• Lipsey, who is a sporting goods wholesaler, among other ventures: “Find a niche and service it well.”
• Perkin: “You’ve got to be flexible in your life. If you’re just starting out, carry a light load and go to the places you need to.”
• Robbie Vitrano, co-founder of Naked Pizza and the Idea Village: “I think it’s important to bet on the entrepreneur. Let’s get more people in the game.”
—David Jacobs