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Trade finance instruments are common technique solutions that are used globally to facilitate international trade. They include the following:
A common method where a bank guarantees payment to the exporter once the importer’s conditions are met, such as the proper delivery of goods. This reduces the risk for both importers and exporters by providing guaranteed payment upon compliance with specific terms and conditions.
A Standby Letter of Credit (SBLC) is a bank guarantee that acts as a safety net for a transaction, promising to pay the beneficiary if the applicant fails to fulfill their contractual obligation. Unlike a traditional Letter of Credit, SBLC is a “standby” payment method used only in the event of default such as non-payment or failure to perform a contractual duty.
A method where the buyer pays the supplier before goods are shipped; for example, payment made to contractors or suppliers. This protects the supplier but carries risk for the buyer. This instrument safeguards against the risk of non-delivery or non-performance.
A bank guarantee is a commitment from a financial institution to cover one financial obligation if a party in a transaction defaults. Bank guarantee helps businesses acquire goods, engage in international trade, and increase access to cash flow by reducing perceived risk in transactions. Besides its use in international trade, it is also used to secure performance in the construction of real estate and infrastructure projects.
Also known as Performance bond, is a financial instrument against non-performance of contractual obligations, providing security for project owners and beneficiaries.
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Buyer’s credit is a short-to-medium term trade finance loan, offered to qualified foreign importers through an overseas bank, to pay foreign suppliers immediately. In most cases, to access the loan, the foreign importer works with his supplier through the designated banks in the exporter’s country. Typically, 85% of the value of the goods are covered by the lender, in countries that offer this method of import financing, and the duration ranges from 30, 60, 90, 0r 180 days.
Eligible goods are usually capital goods, services and project construction and are not usually available for consumer goods in most cases. However, for importers from Sub-Saharan Africa and other parts of Africa looking to finance consumer goods, countries such as Turkey, Brazil, China, Germany, Sweden and Switzerland offer financing for both consumer and capital goods, as well as services and projects.
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Factoring (or Invoice Factoring) is a financial arrangement where a business sells a portion of its unpaid invoice to a third-party financial company (a “factor”), for immediate access to working capital rather than wait 30, 60 or even 90 days, to collect payment after the goods have been delivered. We partner with RTS International Export Factoring Company, to provide this service to exporters in Sub-Saharan Africa and other parts of Africa. RTS International is based in the United States, with presence in over 40+ countries. RTS International has been in business for more than 20 years, with close to 3 million employees and a gross revenue of $33.1 billion.
When your product ships or service is completed, send RTS International the invoice and corresponding documents.
RTS International finance 80-90% of the value of your invoice within 24 hours.
Once your buyer pays the invoice, RTS International will send the reserve to your company, minus the small finance fee.
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Business loans and other types of financing can be accessed only by small and medium-sized businesses located and doing business in the United States through the Swoop Funding online platform.
We also partner with SmartBiz Bank in the U.S. to offer SBA loans to small businesses, including minority-owned businesses. A streamlined application process with less documentation and faster processing time is now available.
We also partner with Southend Capital, a division of Stearns Bank N.A, to offer small businesses various types of loans, including no doc or low-doc commercial real estate loans and Fast capital, with one streamlined application, approval within few hours and finding available the same day.
Swoop Funding is a “marketplace” model and not a direct lender. To apply for funding, you fill out one application with your business data and they match you with suitable options, including loans, equity finance and grants.
Are you an SME doing Business in The US and Looking for Funding?
Submit your application here and get matched with a provider that best serves your needs.
Click here to submit: Stage – us
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SBA Working Capital
Are you looking for SBA working capital between $50,000 and $350,000? You can now take advantage of the new SBA streamlined application, with less documentation and faster processing.
Click here to pre-qualify: Apply for an SBA or term loan online | SmartBiz
We charge a nominal fee of $99, not Success fee, payable on PayPal.See Payment Instructions. Please note that Agreement to make payment within 3 business days after service was provided, must be signed and notarized while requesting this service.
