TRADE FINANCE

Trade finance is used when financing is required by buyers and sellers to make orders happen or execute faster when it  wouldn't otherwise happen. Buyers and sellers also can also choose to use trade finance as a form of risk mitigation.

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Shaking Hands

LETTER OF CREDIT

A letter of credit the oldest and one of the most established payment standards in international trade.

Without a letter of credit, suppliers generally ask for substantial deposits or other payment guarantees. Likewise, importers dealing with foreign suppliers don’t want to pay upfront for goods that may not correspond to purchase order specifications or may arrive late, if ever.

Letters of credit can prevent buyers from losing deposits when the sellers’ performance is deficient in any way akin to an escrow service.

  

We offer two types of letters of credit: commercial (also known as documentary) and standby. We are usually able to offer unsecured letters of credit, which means you do not have to tie up your cash or other collateral to get a letter of credit issued.

PURCHASE ORDER FINANCING

If you have orders from creditworthy customers, we can look to finance all expenses involved in purchasing your goods and delivering them to your customer.

As opposed to traditional bank financing options, this type of financing is easy to qualify for and can be obtained quickly. You will most likely qualify if you have orders from creditworthy customers. If a business isn’t creditworthy, we’ll let you know—consider it a free credit check. If you have a mixed bag of orders, some creditworthy and others not, we can look at the entire portfolio of customers and provide suitable lending options.

Purchase order financing allows your business to fulfill purchase orders you wouldn’t ordinarily be able to accept due to cash flow constraints and lack of traditional collateral. Importers routinely deal with foreign suppliers that demand advance payment, as well as customers that don’t pay for the goods until at least 30 days after receiving them.

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Dollar Bills

FACTORING

Factoring is a form of asset-based lending that involves the purchase and collection of your accounts receivable.

Get the cash you expect to receive from customers into your hands faster. We’ll provide financing based on the creditworthiness of your accounts receivable rather than your financial statements.


We actually become your accounts receivable department. We handle collections, and provide you with the ability to see and manage all your receivables online. We’ll modernize your accounts receivable and serve as your credit department, performing unlimited credit checks as needed. As an added bonus, we insure your eligible receivables—so you can sleep easy knowing that your customers’ ability to pay will not affect your ability to collect those payments.

REMOTE US BANKING

We open a US bank account in your business's name without the typical hurdles you face as a non-US business.

• A bank account with our partner bank, Signature Bank of New York (NASDAQ: SBNY), in your business’s name
• Easily manage your money with wire and check deposits
• Debit card provided, option for pre-paid Mastercard credit card
• Convenient 24/7 online access to your account
• Mobile app banking access and support
• Dedicated, personalized support with your own Account Executive 24/7/365
• Flexible and transparent fees based on your business profile
• Free bank-to-bank transfers
• Each account is insured by the FDIC up to $250,000
• No forced foreign exchange conversions
• Hold all funds in USD indefinitely
• Advice for US tax reporting/implications provided on request
• Confidential onboarding

 

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