From Loyola Athletics:
Loyola University Chicago Athletics has expanded its partnership with INFLCR and is excited to announce the creation of the Rambler Local Exchange, a service that will aid in supporting Loyola student-athletes as they pursue Name, Image and Likeness (NIL) business opportunities. The Rambler Local Exchange will serve as a portal for businesses and Loyola student-athletes to connect directly, while also streamlining the process of exploring and executing NIL business opportunities.
Free to Loyola student-athletes and the businesses that use it, Rambler Local Exchange will help the Loyola Athletics Department customize and manage NIL reporting, while also providing approved businesses, collectives and individuals with a customized portal for communication with student-athletes and fulfilling NIL transactions.
“We are excited to offer the Rambler Local Exchange platform that will streamline the process for businesses and our student-athletes to connect in an efficient and compliant fashion when exploring Name, Image and Likeness opportunities,” Loyola Director of Athletics Steve Watson said. “This service will allow our student-athletes to maximize their opportunities in the NIL era.”
When an NIL transaction is finalized within Rambler Local Exchange, student-athletes will be able to complete a compliance disclosure within the INFLCR app. The app also includes a payment processing tool for the business to securely and directly pay the student-athletes with no transaction fees. All disclosure and payment data automatically report to the institution’s existing INFLCR compliance portal, and any payments processed using this tool will be reported on a consolidated 1099 that lives in the student-athlete’s INFLCR app for more efficient tax reporting.
“Loyola has been a leader in providing technology to maximize their student-athletes’ success when it comes to NIL,” said INFLCR founder, Jim Cavale. “Right as NIL went live in 2021, they invested in compliance software with INFLCR Verified. Now, they’re giving their student-athletes the best chance at monetizing their personal brands with the Rambler Exchange. At the end of the day, it all comes down to creating one system where a student-athlete can access education, and tools for brand growth and NIL business management.”
Rambler Local Exchange will provide student-athletes with education on NIL issues, while also tracking social media engagement and growth.
INFLCR Plus Local Exchange: How It Works
INFLCR provides a school-customized NIL exchange as an extension to their athletics website where the school can send any business, individual or collective seeking to bring NIL opportunities to its student-athletes. Once registered, businesses can search, communicate, pay and report on behalf of student-athletes they’re transacting with, streamlining the student-athlete’s compliance and tax reporting responsibilities in their existing INFLCR app experience.