Export Finance - What is it?

Export financing helps you develop your overseas business profitably and with confidence.

Your business will receive an advance of cash against the value of your outstanding export invoices. You can receive  to 80% of the value of that invoice within 24 hours. The remaining 20%, less a small service fee, is paid to you once your customer pays. This means your business has access to an ongoing supply of cash linked to your sales. So as your overseas business grows so does the amount of funding available to you.

Export Finance providers can we also remove the hassle of dealing with overseas customers by going after and collecting outstanding invoice payments from them. Working with you, they decide whether to use the services of their in-house multilingual team or to use their worldwide network of associated factoring companies always ensuring the smooth flow of business over differences in laws, customs and language.

They will prepare and send out statements and telephone your overseas customers, in many regions communicating with them in their language. They will collect payments for you and maintain professional and detailed accounts of your transactions.

They can also help in smoothing out the problem of fluctuating exchange rates by offering multi currency facilities. They have overseas bank accounts for fast, low cost receipt of payments.

You remain in control by working with a dedicated team of people who ensure your customers are as happy to deal with us as they are with you.

How does it work?

1.           Both you and the lender jointly advise your trading partner that you intend to use export funding services, so that the customer's cooperation can be expected when they are contacted.

2.           After you submit your application and it is assessed the lender will review the creditworthiness of your customer and define a line of credit for them. An agreement will then be signed between you and them.

3.           To help with your cash flow, they will provide a cash advance against the value of your outstanding export invoices with that customer.

4.           Complete your business transaction and create an invoice for the goods.

5.           You send in your export invoices for funding and the lender will verify that the goods were received.

6.           The lender will then release up to 80% of their value within 24 hours.

7.           The lender will include details on your invoice and send it to your customer so that they can easily follow the instructions and make payment directly to the lender.

8.           On due date, the lender will collect payment from your customer and pay you the remaining 20%, less a small service fee.

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