As the trend away from Letters of Credit towards standard accounts continues, our Export Finance service can play a vital role in easing pressure on cashflow, whilst helping to minimise the risks associated with late payments and bad debts from foreign customers. Recovering money and chasing potential bad debts can be much tougher in a foreign language, in a country with different ways of doing business and a whole raft of different techniques for stalling payments. Export Factoring can provide the solution.
The benefits include:
- Unlocking the cash tied up in your invoices, giving you the flexibility to grow your export business
- Enjoying up to 90% of your invoice value upfront, with the balance paid on collection, less our agreed fees
- The choice of Factoring or Invoice Discounting to suit your own set-up
International Factoring includes local collection in your customer’s country, removing language and cultural barriers
- The option to include Bad Debt Protection and enjoy expert credit checking, while enjoying 100% cover on Factoring and 95% cover on Invoice Discounting.
- Less cost and less time consuming to set up than Letters of Credit
- More cost-effective and straightforward for your customers, reducing barriers to new business
- All the benefits of Venture’s award-winning service including a personal Relationship Manager and 24/7 online access to your account
- Potential to negotiate better terms with suppliers
- The ability to expand your exporting business with less financial risk
- A professionally run export credit service, without employing specialist staff
- Having a flexible finance facility that grows with your business
To find out if Export Finance could work for your business, check if you are eligible, or call our experienced team on: 0800 077 8547.
