Telarus Inc. partners who want to hire new people, fund marketing and advertising campaigns, lure referral associates, or just receive a lump sum of money, now have access to financial help from the master agency.
The Utah-based company, which distributes voice, data and data center services for businesses, said today it’s lending money to partners – up to 10 times their monthly residuals – and offering an up-front option. That way, agents and VARs can get their hands on capital dollars or take a one-time payment.
The first initiative, called the Commission Advance Program, is available to all Telarus partners who have achieved a minimum of Bronze status or higher. Each partner may borrow up to 10 times their monthly residual commission without making any payments for one year.
The second is called “As You Like It," and lets partners convert residual commission into an up-front check, for instant access to their compensation.
"We understand that it takes a long time for our partners to build up their revenue and that recent sales take months to actually cash-flow," said Zane Christensen, CFO of Telarus. “With these two new programs, we are able to shoulder some of the risk and dramatically shorten the time it takes for our partners to be paid, so they can reinvest and hit their growth targets much sooner than they could otherwise."
Plus, said Adam Edwards, CEO of Telarus, the programs “open the window of opportunity for our partners to work with referral partners who don't have a residual income model. Many in the IT and VAR space are used to receiving large one-time payments for projects they complete, and this will allow our sales partners to overcome any commission incompatibilities that may prevent the two from working together."
Telarus is not the first master to offer non-traditional financing and compensation methods. Intelisys debuted its Advanced Commissions Program in August 2011, with the aim of paying partners faster after a sale’s close.