What’s Import Finance & Who Can Benefit from It?
- Written by News Company
If you’re seeking financing but uncertain if traditional invoice factoring is right for you, import finance may be the best option. This is a finance solution for businesses who source goods from global markets. It works by releasing 90% of your overseas suppliers orders to you immediately. When payment is received from your customers, you’ll receive the balance, minus a small discount fee.
How Can It Work for My Global Company?
Import finance is available to all companies in Australia who work globally. Perhaps you need financing to cover your current capital costs. These types of businesses may have more funds tied up than your average business who operates locally. You’ll be able to receive funds even if your overseas customers still haven’t received the goods you have sent them, or if they haven’t even paid yet. If your company is also struggling to come out of a tough trading situation, we can get you that cash advance.
Reduce Your Supply Costs
Many businesses may have local suppliers, but understand that global supplies or raw materials or finished goods right from the factories might be a cheaper option. You may also be importing and hoping for cheaper transportation costs. Either way, Tim Finance may be your best option to help reduce supply costs or bring import goods into the country. A larger outlay of cash may be required up front in order for you to save in the future. When you apply through TIM for import finance, you’ll have the immediate funds you need to take your business to the next level.
Are There Security Guarantees?
No assets or properties are required. We simply assume security over the products you are importing. We offer competitive pricing and are the largest logistics provider in Australia. Your total costs are based on a variety of factors: type of business, type of products, manufacturing times and special requirements.
What Else Should I Know?
The maximum funding term is 150 days, but it’s also tailored to your business’s special needs. The types of goods can vary, depending on resale value to your Australian customers. If your business has an annual revenue of $1M, with four regular paying customers, then you may quality to receive the capital you need to keep growing.
If you’re ready to learn more, please contact our experienced staff members at Tim Finance who can help you to get started in Import Finance.
