An Australian SME reached out to Finport, seeking a trade finance solution for importing a specialised machine for glass bottling from a European supplier. The supplier required an upfront deposit, followed by a final payment before shipping the machine to Australia. The total amount drawn down was EURO $250,000.
Approach: To assess the creditworthiness of the SME, Finport gathered the essential financial data. For a detailed list of the information we typically require, visit www.finport.com and go to the “download application” section.
Within a span of 7 business days post the finance request, Finport provided written confirmation of the terms and financing details:
A facility of EURO $250,000
Two drawdowns scheduled over a 4-week duration
Assurance to the European supplier of available funds
Verification of bank details and transaction legitimacy
Disbursement of EUROs to the supplier and transaction hedging on behalf of the buyer
Offering a cost-effective shipping solution for the machine from Europe
Outcome:
The trade finance package offered by Finport presented an affordable solution for the client. Notably, with known drawdown dates, we waived all non-utilisation fees, amplifying the overall cost-effectiveness by leveraging our freight division and financing.
As a result, our client:
Successfully secured a more favorable price for the bottling machine due to cash settlement in EUROs with the supplier.
Benefitted from prompt credit access and capital provision for equipment procurement.
Saved considerably on transportation costs.
Take Action Now: Are you in need of tailored trade finance solutions? Partner with Finport and experience seamless, cost-effective financial solutions to boost your business. Visit www.finport.com or call 1800346767 today to get started!
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