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SOURCE: eTax Credit Exchange
Exchange unlocks potential of the $7 billion tax credit industry with the trading of more than $12.2 million in tax credits in its first three weeks.
New Orleans, LA (PRWEB) March 05, 2013
eTax Credit Exchange, the first nationwide platform for buying and selling 100% certified tax credits, opened trading on its revolutionary online tax credit marketplace with the exchange of more than $12.2 million in tax credits in its first three weeks. eTax Credit Exchange provides an efficient, secure and transparent trading marketplace that allows tax credit buyers to reduce their tax liability and helps tax credit sellers to monetize their credits faster and with a higher rate of return.
“Trading of tax credits is a burgeoning industry, but its potential has been limited by restricted access to a closed brokerage trading environment,” said Peter Loop, co-founder and CEO of eTax Credit Exchange. “We’re turning the buying and selling of tax credits into a powerful financial instrument for all companies and individuals nationwide through the creation of our robust, transparent online marketplace.”
Currently, more than 40 states issue approximately $7 billion worth of transferable tax credits annually. On eTax Credit Exchange, these credits can be sold for cash to offset a Buyer’s tax liability and to increase a Seller’s liquidity. Historically, these trades have been limited to select groups transacting with limited information.
eTax Credit Exchange empowers tax credit owners to more efficiently sell certified tax credits to a global audience of verified buyers. Sellers can trade credits with a greater degree of flexibility and control in order to increase liquidity and improve their return on investment.
Both Buyers and Sellers benefit from secure access to 100% certified tax credits, real-time trading analytics that assist in obtaining fair market pricing and a centralized system that enables faster closing and clearing of all credits.
eTax Credit Exchange was founded by tax credit and finance industry veterans Peter Loop and Raelynn Tammariello Loop. Together they have brokered more than $100 million in tax credits. The advisory team includes experts and innovators from the film, finance and business sectors. In addition, eTax Credit was selected from more than 160 applications to be one of 15 companies to participate in Idea Village’s highly competitive 2013 IDEAxcelerator class.
About eTax Credit Exchange
eTax Credit Exchange is the online marketplace for trading tax credits. Established in 2011, the company will bring together buyers and sellers to trade tax credits in an efficient, transparent marketplace on its proprietary trading platform. Tax credit generation has historically been fragmented with inefficiently executed transactions. For more information visit: http://www.eTaxCreditExchange.com
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