If you’re curious about the benefits of joining Bridgement’s partner referral program, you’re in the right place. As we pointed out in another article, accountants are taking on an increasingly advisory role for the small businesses they serve and, by becoming a Bridgement partner, they open up opportunities for mutually beneficial growth — for both their clients’ businesses and their own careers. 

The article demonstrates the professional benefits of recommending effective small business funding solutions that are specifically designed for SMEs, which can simultaneously give growing businesses critical access to accessible business funding while elevating an advisor’s credibility and attractiveness to existing and prospective clients. In addition to these opportunities for professional advancement, Bridgement’s referral program offers significant financial benefits. 

To give prospective partners a fair idea of how our commission structure works, we’ve worked out a hypothetical example based on our models. A hypothetical case study needs a hypothetical partner, so we’re going to call this one Richard — Rich for short. 

Before we delve into the specifics of Rich’s earnings through his referral partnership with Bridgement, let’s take a second to explore how the commission structure typically works. 

How does Bridgement’s commission structure work? 

When it comes to determining commission for our referral partners, our standard commission rate is 3% on the initial withdrawal and 1% on every re-advance thereafter.

A referral partner can multiply their earnings based on the following metrics: 

  • Number of clients referred. The more you refer, the higher your chance for higher earnings.
  • Number of clients converted from your referrals
  • Percentage of clients returning to re-use their facility

With the general terms of Bridgement’s commission structure in mind, let’s return to Rich and learn more about how much he earned as a Bridgement referral partner. 

How Rich grew his Bridgement commission by 58% in three years

Rich is a savvy accountant who started referring clients to Bridgement because he recognised that a lot of the small businesses he advised needed access to business funding at a much more efficient rate than most traditional lenders can offer. Because Bridgement’s business funding solutions are 100% obligation-free, Rich frequently recommends to clients that they open and maintain a Bridgement facility at zero cost — even if it’s only to have a solid backup plan that gives them secure access to fast and flexible funding when they need it. 

In the first year of his partnership with Bridgement, Rich refers 150 clients. Of those referrals, 40% are converted to Bridgement clients who activate credit facilities. Rich’s referrals boast a retention rate of 60%, and their facility with Bridgement tends to last about nine months on average. 

On average, Rich’s active referrals are utilising Bridgement facilities worth R400,000. Rich is earning a 3% commission rate on all first-time withdrawals on those facilities; he is earning a 1% commission rate on every re-advance thereafter (with the average re-advance rate sitting at about 50%). In the first year alone, Rich earns R900,000 in commission rates. 

Sounds great. Is there a way to earn that income passively? 

At the 12-month mark, Rich reaches a saturation point and stops making new referrals. With no other changes, his commission rates in the second year of his Bridgement partnership amount to R1,28 million. In the third year, he earns R1,55 million — meaning that, effectively, Rich’s commission passively grew by 58% through re-advance commission alone. Way to go, Rich. 

Rich may be an entirely fictitious character, but his commission earnings are based on real models. This hypothetical scenario should give prospective partners a clear idea of how Bridgement’s referral program works in real terms. Got more questions? We love to hear them! Don’t hesitate to get in touch for more details on our partnership program (or anything else, really).