A low doc application, unsecured funds & credit insured – read on to discover how much easier it is to obtain trade finance.
Importing has always been fraught with dramas.
You can go crazy searching for quality products, reliable suppliers and then organising insurance, transport, customs and ensuring the goods arrive in one piece.
It’s hard work and, unless you are cashed up, the most challenging part is obtaining trade a.k.a. import finance to close the deal.
Many an entrepreneurial dream has been dashed against the cold hard reality of an empty bank account.
Trade finance puzzle solved
However, that part of the puzzle has been solved, according to Nathan Llewellyn, CEO of Trade Capital Network.
The company is the sole Australian distributor of finance provided by a number of China based lenders, whose unique funding models have made it much easier for Australians to obtain import finance, so they can buy and pay for goods overseas and ship them around the world.
Facilities are low-doc, require no security in most instances and are backed by credit insurance.
“This removes a lot of risk,” Mr Llewellyn said.
Revolving import finance facility
“We provide our clients with a revolving trade credit facility and up to 4 months to pay for each load they buy.
“The cash flow benefit is huge if a customer can on-sell the goods before repayments are due.”
Business owners can hold on to their cash reserves even longer if their facility is used in conjunction with invoice finance.
It’s also possible to arrange for goods to be delivered to a third party.
Successful borrowers will have an ABN registered in Australia and been in business longer than 2 years with a track record of successful trading.