Import Finance - also known as Trade Finance -helps you to close the funding gap between an order from a UK customer placed on credit terms, and the payment demanded by your overseas supplier.

Import Finance eases the pressure on cashflow and takes care of some potentially complex paperwork and procedures. With Import Finance, you can fund up to 100% of your overseas purchases, including freight, duty and VAT, all the way to the point that your UK customer pays your invoice.

Import Finance – how does it work?

Import Finance service combines Trade Finance with Invoice Financing to pre-pay your overseas suppliers. In effect you only pay your supplier once your customer has paid you.

As part of the service, Lender raises and manages the Letter of Credit (LC) with your supplier, reducing the risks associated with importing, and reducing complicated paperwork.

Import Finance takes all the uncertainty, worry and financial unpredictability out of the import equation – and can give you cashflow a huge injection, right from day one.

Import Finance (or Trade Finance as it’s often called) delivers two key benefits. You can fund up to 100% of the cost of imported goods – providing a significant cashflow injection from day one. Secondly, professional Trade Finance team will take care of the paperwork, issuing Letters of Credit (LCs) on your behalf.

With Import Finance you’ll find that:

• Bridge the funding gap between buying overseas and being paid by your UK customer
• Combine the facility with Invoice Finance to fund all the way from purchase to sale to fund customer settlement
• Enjoy up to 100% funding, with the option to fund duty, VAT and freight
• Know that all LCs conditions have been met before any payment is made
• Enjoy efficient processing of LCs – often the same day
• Track orders online
• Build stronger supplier relationships - they know they’ll be paid, and you can potentially negotiate better trading terms
• Operate with vastly improved cashflow
• Expand your importing business with less financial risk
• Have a process that’s professionally run without employing specialist staff

Import Finance takes much of the financial stress out of importing, from the purchasing end of the business cycle right though to sale, and gives you a cashflow injection that can help fund your next consignment in days.

Import Finance works in conjunction with Factoring or Invoice Discounting services. As well as less risk and improved cashflow, your ordered purchases are funded all the way to the point at which your ultimate customer pays.

Could Import Finance work for you? It can if:

• You are a UK based business to business supplier selling on trade credit terms
• You are importing goods into the UK against confirmed orders
• Your overseas supplier wants guaranteed up front payment
• You use Letters of Credit or would like to use them

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