# Invoice Ledger

> Invoice Ledger takes companies that sell to other businesses on credit terms straight to accounts receivable securitization, the cheapest way to fund receivables, and runs the whole program for them: credit insurance, structure and legal, investors, daily operations, reporting and renewals. It is based in New York and serves companies in the United States.

- Invoice Ledger is the trading name of InvoiceLedger Inc., based in New York, NY.
- It turns a company's receivables (invoices owed by business customers on credit terms) into a securitization program and runs it end to end.
- Invoice Ledger is not a lender and the receivables do not sit on its balance sheet: banks, insurers and capital markets investors fund them.
- Invoice Ledger handles credit insurance (placed or reused), program structure and legal, investors and placement, verification of every invoice, collection accounts and reconciliation, daily eligibility and limits, insurer and investor reporting, and every renewal.
- The company's part: review its AR workflow once with Invoice Ledger and close any gaps, such as customer confirmations and a collection account; after that it keeps invoicing as usual.
- Securitization prices receivables off the company's credit insurer, the way institutional investors price them. Indicatively that is single digits a year at the quarterly funding window, against high teens and up for factoring; funding immediately costs about 1.5 points more. Pricing depends on the insurer, customers, terms and volume.
- Advance: up to 90% of eligible receivables, depending on dilution.
- Who it is for: companies that sell on credit terms, especially those with trade credit insurance or customers an insurer would cover, and the trade credit insurance brokers who advise them.
- Brokers keep their brokerage commission as today and earn a referral on funded clients, agreed in the partner agreement.
- Leadership: Iman Aqas, Chief Executive Officer, and Alisa Rusanoff, Chief Credit Officer.
- A free calculator at tci.invoiceledger.com models what a receivables book could cost to fund.
- Contact: desk@invoiceledger.com, or the Get your rate form at invoiceledger.com.

## Pages

- [Invoice Ledger](https://invoiceledger.com/): What Invoice Ledger does: takes companies that sell on credit terms straight to securitization and runs the program end to end. Covers the funding ladder, what Invoice Ledger handles and what the company does, an illustrative savings calculator, and the Get your rate form.
- [For trade credit insurance brokers](https://invoiceledger.com/brokers): The broker partnership: brokers introduce insured clients and own the relationship, Invoice Ledger runs the securitization, and brokers earn a referral on every funded account in addition to their brokerage commission. Includes the co-branded minisite, indicative offers and an earnings calculator.
- [Insights](https://invoiceledger.com/insights): Guides to accounts receivable securitization, trade credit insurance and the funding ladder, plus a short FAQ about Invoice Ledger.
- [News and announcements](https://invoiceledger.com/feed): Invoice Ledger's news, announcements and events.
- [On Terms roundtable](https://invoiceledger.com/roundtable): On Terms, Invoice Ledger's November 2026 roundtable in New York on the future of B2B trade in the age of AI: ten invited seats and a small audience by request.

## Guides

- [What is accounts receivable securitization?](https://invoiceledger.com/insights/what-is-accounts-receivable-securitization): Accounts receivable securitization, explained: how selling invoices to a special purpose vehicle lets a company fund its receivables at institutional rates.
- [Factoring vs. securitization: the receivables funding ladder](https://invoiceledger.com/insights/factoring-vs-securitization): Factoring, private credit, bank lines and securitization compared: what each one prices, who qualifies, and how to move up the receivables funding ladder.
- [How trade credit insurance lowers your cost of capital](https://invoiceledger.com/insights/trade-credit-insurance-financing): Trade credit insurance protects you when customers don't pay. Used well, it also lets funders price your receivables off your insurer. Here is how that works.
- [Can a mid-market company securitize its receivables?](https://invoiceledger.com/insights/ar-securitization-for-mid-market-companies): Securitization used to be for the largest companies. What kept mid-market companies out, what has changed, and what you need to securitize your receivables.
- [Receivables finance glossary](https://invoiceledger.com/insights/receivables-finance-glossary): Plain-English definitions of the terms used in receivables finance and securitization, from advance rate and dilution to true sale and special purpose vehicle.

## Optional

- [Trade credit insurance calculator](https://tci.invoiceledger.com): model what your receivables could cost to fund
- [Full text of this site for language models](https://invoiceledger.com/llms-full.txt): every page summary, the FAQ and every guide in one file