Export Finance – How Export Financing Can Help Your International Sales Develop

17 Apr

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Selling your merchandise or services in export markets can be a quite lucrative and a true engine for development for your firm. Manufacturers, service providers and traders can all benefit from adding foreign markets to their portfolio of clients. Even so, selling into export markets can also deplete your money flow. Significant companies that have a cushion of funds in the bank, typically have no issues. Nonetheless, smaller sized and emerging companies can run into money flow troubles extremely swiftly.

The greatest problem for exporting firms is waiting 30, 60 or even 90 days to get paid for their goods or solutions. Slow paying consumers can truly influence your company’s cash flow. This can challenges your capacity to pay suppliers, staff or even rent.

A single answer to this common issue is to go to the bank. If you can supply them with a couple of years worth of audited financial statements, have a very good track record and have great personal credit, then the bank should be capable to help you get enterprise financing. Nevertheless, getting bank financing can be extremely tough for tiny and medium sized firms.

A better option is to use export factoring, a kind of export finance. Export factoring makes it possible for you to accelerate the payment of your foreign export invoices, delivering you with the essential funds to meet your obligations and grow your business. With export factoring you can get your invoices paid in as tiny as 2 days. And, as opposed to most conventional financing tools, factoring is straightforward to acquire and speedy to set up.

Invoice factoring can also be very easy to use. It works as follows:

1. You sell and provide your goods/services to your consumer

2. You invoice your buyer

3. The factoring firm offers you with an advance on your invoice of up to 85% of its net worth. This is the 1st installment

4. You get instant funds to operate your business

5. When your client pays, the transaction is settled and the factoring organization rebates the remaining 15% as a 2nd installment, less a small fee

The most important requirement to qualify for factoring financing is to do business with reputable foreign clients, such as multinational corporations. If you do business with trustworthy customers you are going to have a very good possibility of obtaining financing.

16 Responses to “Export Finance – How Export Financing Can Help Your International Sales Develop”

  1. Chauncey July 28, 2013 at 12:02 pm #

    Hi How much value MCA by Correspondence (from Mumbai University) has? I missed the CET and can’t get admission in college now. What to do?

  2. Mitsue September 3, 2013 at 8:04 pm #

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  3. Tad September 4, 2013 at 1:23 am #

    Hi guys,
    I have been applying for jobs for months now and haven’t heard back from any of them. I tried to apply to entry level jobs as well and nothing. Is there anything wrong with my resume? I posted it below and I appreciate your review and help!

    CAREER SUMMARY

    Diversified progressive experience in different fields including accounting, logistics, financial analysis, inventory management, staff training and supervision, customer service. Strong project management, team building and leadership skills. Expert PC qualifications with proficiency in Word, Excel, Access and ERP systems. Extensive experience in systems selection and implementation.

    PROFESSIONAL EXPERIENCE

    _______________________2007 – Present

    Analyst/Executive Assistant to VP Operations
    •Built and updated financial models using historical petroleum pricing data.
    •Developed a series of charts and spreadsheets that streamlined the flow of information from the oil fields.
    •Coordinated accounting, operational and administrative activities of international offices.
    •Developed a system to track tanker’s movements from the point of origin to destination.
    •Managed ad hoc special projects for executive management.
    •Translated financial, legal, and technical documents from Russian into English.
    •Participated in development and implementation of the company’s ERP.

    ________________________2004-2007
    Logistics Supervisor with Finance Responsibilities
    •Managed logistics department.
    •Provided on-site training of logistics personnel to prepare and submit import documentation including contracts, country-mandated pre-shipment inspection documents.
    •Negotiated contracts with common carriers to reduce transportation costs.
    •Developed and maintained inventory management system for customers.
    •Performed financial and operational analysis with focus on finance, operations and sales.
    •Worked closely with senior financial and operating executives to interpret financial data and improve business operations.
    •Managed accounting operations, including billing, accounts payable, accounts receivable, general ledger, reconciliations.
    •Identified, researched, tracked and reported on the causes for fluctuations outside of anticipated parameters.
    •Participated in budget preparation, formulation, presentation. Prepared and presented variance analysis on a monthly basis.
    •Coordinated accounting systems implementation and upgrades.
    •Represented the company in sales meetings and major international fairs.

    _____________________________________2002-2004
    Flight Attendant
    •Provided outstanding customer service to passengers.
    •Promoted and assisted passengers in their understanding and compliance with the company safety policies.
    •Provided customers with hassle free travel experience by focusing on their needs.
    •Contributed to company’s public image and profitability by ensuring passengers and crews are ready for on-time departure.

    ____________________________1997-2001
    Accountant/Office Manager
    •Supervised day-to-day activities in the accounting department, both accounts payable and receivable, bank reconciliations, payroll.
    •Prepared journal entries, balance sheets, profit and loss statements, and other financial reports.
    •Prepared and submitted import/export documentation.
    •Managed a staff of four.

    EDUCATION

    ________________, College of Law
    JD (2013)

    ____________________________________,
    Bachelor of Business Administration, Majors: Finance (2009), Accounting (2010)

    University of Latvia, Riga, Latvia
    Associate of Arts, English, 1996

    SOFTWARE

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    •CPA candidate

    References available upon request.

    Thank you very much!

  4. Zoraida September 8, 2013 at 3:26 pm #

    Whenever anyone talks about a weak dollar (US) they talk about trade (imports vs exports etc) or manufacturing, which is all well and good but that’s not what I want to know. Does a weak US dollar mean my dollars in my bank account are worth less? It would certainly seem so since the cost of many simple goods such as food and clothing (both imported and domestic) have gone up.
    How does a weak dollar contribute to inflation?

  5. Kerry September 13, 2013 at 10:17 pm #

    Hey, I am currently doing some AS Economics homework and the questions asks “What are the economics reasons why a country maybe successful at exporting?”
    At the moment I can only think of devaluing the currency (thus making exports cheaper)
    I only need one more economic reason…any help would be greatly appreciated
    Thanks 😀

  6. Queenie September 14, 2013 at 3:48 pm #

    how does currency fluctuate? why do peole say that china fixes the value of its currency and how does it help china’s exports?

  7. Junior September 14, 2013 at 11:02 pm #

    I’m going to melbourne in next June for higher studies in Monash University.What should I take with me and the quantity I should take(eg-10 shirts)

  8. Garland September 15, 2013 at 1:31 pm #

    What strengths do you think the South had? What strengths do you think the North had? How did these factors influence the outcome of the war?

  9. Anthony September 16, 2013 at 2:02 am #

    i am an indonesian pupil. i wanna try for scholarship in singapore. my destination is raffles college. but i never go to singapore before. do you wanna help me ?? thx

  10. Earl September 16, 2013 at 11:54 am #

    I have done my MSc in Comp Sc, with some C++, .NET exp & more of teaching exp

  11. Margert September 16, 2013 at 12:24 pm #

    Kindly help me find the formula that determines whether the currency value should depreciate or appreciate. For example: US$ 1 : PhP 40 on July 31. On August 1, what factors should be considered to determine whether the currency value of the Philippine Peso (PhP) should depreciate or appreciate? Can you illustrate it to me through a formula that I can use to compute the value of PhP for August 1? Your assistance would be greatly appreciated. Thanks in advance.

  12. Salvador September 16, 2013 at 12:39 pm #

    I want to pursue my career as a lecturer .

  13. Azalee September 16, 2013 at 12:51 pm #

    For example, end favored nation status, impose tariffs to adjust to labor, environment, safety factors and restricted currency float.
    China’s economy is fueled by our consumption of their exports. Are we so weak that we depend on them or do they depend on us?

  14. Gennie September 16, 2013 at 2:42 pm #

    I’d love to be able to travel all over the place, mainly europe. does anyone know any good careers that would have you on the plane a lot going here and there?

  15. Elouise September 16, 2013 at 7:16 pm #

    Please read all of the details before answering the question.

    What do you think of what I wrote below as well?

    This would allow the US to be able to pay back loans obtained through the sale of Treasury Bonds currently in the trillions of dollars through exporting products.

    The trade deficit lies at the heart of the problem since it forces the US to borrow more money and to print more money every year deepening the problem.

    In response to losing massive amounts of manufacturing, the GDP was increased through consumer spending, interest rates were dropped and the housing bubble was created to allow consumers to spend hundreds of billions and even trillions of dollars they didn’t have.

    This economy is unsustainable because the US has no way of paying back countries for their loans nor does it have any way to pay for the consumption through imported products since it doesn’t make enough to balance the massive deficits every year.

    The US GDP is made up of, from what I understand, about 70% consumption, about 5% borrowing money on Treasury Bonds, and the rest mostly being our service sector economy (selling goods and services at stores throughout the country) with only a few percent of the GDP making up production.
    Question written on May 10, 2009

  16. Porfirio September 16, 2013 at 7:38 pm #

    besides medical what are d other fields specially in engineering …for which taking up biology ryt now wud be beneficial …!!!!!!

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