What is a Stenn Certified Representative?
A Stenn Certified Representative (SCR) is an active and proficient person, who connects export/import companies from their own country to the Stenn financial platform, helping them to finance their turnover. This can be a full-time or a part-time job.
What does a Stenn Certified Representative do?
An SCR invites clients to the Stenn Financial Platform, offering financial support for their business by invoice financing online. To invite them, the SCR would use the Stenn App – a convenient and easy-to-use interface. You can find more information about what invoice financing involves here, and explore the Stenn App here.
What special knowledge or experience is required?
No previous experience or financial knowledge is required, but you will need to go through our short introductory PDF that includes the basic instructions and an FAQ.
A Stenn Certified Representative can invite a variety of clients to the Stenn Platform. Typically, they will be in the import/export industry and turnover 3M USD or more per year. Ideally, clients will be located in one of the countries on this list. Stenn can help increase their turnover, protect sellers from non-payment, and give buyers better terms and conditions.
How much can a Stenn Representative earn?
As soon as your client has been financed and the deal is complete, an SCR will receive 5% commission from Stenn on every invoice you help us to finance. Once you connect Stenn and your client, we will pay you commission on their financed invoices for a full year. For example, if you connected 6 clients to the Stenn Platform, each of which permanently used Stenn financing for 500,000 USD, your yearly commission would be approximately 15,000 USD.
What is invoice financing and how does it help businesses all over the world?
Typically, small and medium-sized companies that export goods overseas will wait 60-120 days before receiving payment – this is called deferred payment and is standard in international trade. Stenn offers immediate coverage of that debt by transferring the money to the exporter straight away, and collecting money from the buyer at a later date. This means that the exporter gets the cash as soon as the goods have been shipped and is protected from a possible non-payment. The cost of this financing is usually 1.2% - 2.7% of the invoice value, which is good value for unfreezing the turnover money and getting non-payment protection and insurance. It is also faster than a bank (48 hours) and better than credit (it has no influence on banking credit history).
Stenn International is a UK-based, non-bank trade finance provider that delivers innovative solutions to unlock working capital for buyers and suppliers in global supply chains. We specialize in financing sectors and geographic regions that other providers can’t or won’t serve, with a goal of fueling international trade for all. Read more here.