Exporters Funding
Overview
Firstly for exporters there is a non-recourse factoring facility where Firm Finance assumes 100% of the credit risk on the overseas buyer, while still advancing up to 80% on dispatch of the goods and the remainder on collection or debtor default. This allows the exporter to offer open account terms up to 90 days, making it more attractive to buy from the Australian exporter. Export factoring thus gives security of payment and cash flow without the need to impose letter of credit terms on potential customers.
Target
Improved cash flow – obtain funding on your invoices immediately a Bill of Lading or Airway Bill has been issued.
• No need to wait until the goods has been physically delivered.
• Credit Protection provides protection against your customer’s inability to pay.
• Outsource your overseas receivables administration, allowing you to concentrate on running your business.
• Obtain improved credit control and minimize your bad debts via credit checking and monitoring facilities.
• Selective Funding – you do not need to factor your entire ledger.
• You can fund lumpy transactions. We will fund even a single debtor.
• Eliminate the need for Letters of Credit.
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Loan Purpose |
Export Debtor Finance is a financial solution to three key areas of your business: |
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Loan Features |
• The debtor (your Clients) is unaware of how you are funding your business. |
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Loan Products |
A well established and clear credit history business with excellent management team An annual turnover over $999,000 and is selling goods (or providing services) to other businesses on credit terms |
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Minimum Loan Size |
$520,000 per annum (Subject to the loan scenario ) |
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Maximum Loan size |
$10M per annum (Subject to the loan scenario ) |
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Loan to Value Ratio |
100% |
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Minimum Loan Terms |
1year |
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Maximum Loan Terms |
10 years |
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Security Type |
Residential, industrial, commercial may be required |
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Additional Repayment |
Not required |
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Loan statements |
Issued Half Yearly (But you can ask us when required we will mail them to you charges apply). |
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Documentation Required |
Subject to the loan purpose, please call 1300 790 909 for more details |
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Financial Information |
Subject to the financial statements covering the last 12 months |
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Qualifying Interest Rate |
Please call our consultant on 1300 790 909 for more details |
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Other Conditions |
• Must demonstrated profitable trading over the past year |
