IMM Export Finance: Up to 80% advance on your Foreign Receivables with rates as low as 1%.
Consider Export Finance if you have customers in other countries that you sell to on credit, or customers that you would like to see to on credit, but cannot because you do not want to carry more receivables on your books?
Our International Trade Finance Programs will allow you to sell abroad without the burden of carrying that debt. A Foreign Accounts Receivable Facility will allow you to receive up to 80% of your Non-Domestic Accounts Receivables within 24 hours of delivery confirmation of your goods.
If you are doing business internationally, we can offer your company a Credit Line based on your International Receivables. This Program in reality is Accounts Receivable Factoring but it allows for non-domestic customers. Something that most banks will not consider. We are well seasoned in dealing internationally and the concept of have accounts receivables in countries other than that which your company is domiciled is part of business-as-normal in our eyes.
International Trade Finance will also help you to know which foreign customers to sell to, and which to not sell to as you will have instant access to foreign credit reporting for your International Customers.
Trade Finance is NOT a loan, it is an line of credit or “advance” on money that is owed to your company by Your International Customers.
And it is not for Domestic customers either. If we are looking at doing a line of credit based on both International and Domestic Customers, that would be considered a blend of Trade Finance and Accounts Receivable Factoring, which we would be more than happy to provide.
IMMFinancial.com will generally set the advance rate at 80% or more against the amount of money that Your International Customers owe you. And when your customers pay their invoices that they owe, this will pay back the advance you received. This means there is no fixed monthly payment you need to be concerned with.
The amount advanced to you will grow with your sales so as your sales increase, so will your line of credit.
At the end of the day, the money that you draw down from the Trade Finance based line of credit is money you were going to receive when your customers paid their invoices.
So, how does the process actually work?
That is a great question and I would be happy to give you a high-level perspective of the actual process.
Once a Trade Finance Facility has been established, IMMFinancial.com will advance you on all current outstanding approved international invoices and also advance on any future invoices that have been issued to approved customers.
Trade Finance Process:
1. You issue an invoice to your customer.
2. You provide the invoice and proof of delivery/customer acceptance of the invoice.
3. IMMFinancial.com may confirm the documents submitted.
4. You will receive and advance deposited to your bank account.
5. Your customer will pay the invoice as per the terms of sale.
6. IMMFinancial.com will deduct the amount advanced to your for that invoice and deposit the difference less the finance fee within 24 hours.
Import Export Finance Questions and Answers
- What does IMM Financial, a worldwide Export Receivables Factoring Company, offer?
- How does Export Finance or International Trade Finance actually work?
- What is the Benefit for my business to use the Financial Services of an Export Receivables Factoring Company?
- Which types of industries generally use an International Trade Finance Company?
- What are the types of clients that use Import Export Finance?
- Is the application for Export Credit Financing requirements as cumbersome as getting a loan form a bank? What can I expect in the process of the application?
- Are there any transaction types which I cannot use Export Import Finance for?
- My Company has customers all over the world; are there certain countries that you will not accept Invoices from?
- Will it take a long time to set up my Company with Export Finance?
- I am not sure I want to do this. Tell me why I should be interested in International Trade Finance Companies?
1. What does IMM Financial, a worldwide Export Receivables Factoring Company, offer?
IMM Financial is an International Factoring Company. We have been involved in Professional Invoice Factoring Services for many years. We are able to work with Domestic as well as International Receivables whereby we advance funds based on verifiable invoices to your creditworthy customers.
A nominal discount is applied to your Accounts Receivables and you receive an immediate Cash Advance against the Invoices. IMM Financial carters to clients worldwide with many different financial options. Our Financial Products vary from Accounts Receivable Financing, Accounts Receivable Management, Purchase Order Financing, Debtor-In-Possession Financing, Government Receivables Funding, International Trade Financing, Merchant Card Advances, Equipment Leasing, Documentary Letters of Credit and more. IMM Financial has years of history among the best Factoring Companies. We view the our relationships with our clients as a partnership where when clients prosper, we prosper.
2. How does Export Finance or International Trade Finance actually work?
Export Finance, or International Trade Funding, will allow your International Invoices to be changed into cash. You will receive an advance ranging from 70% up to 85% of your Foreign Invoice face value. The face value reserves will be wired to your account after your International Invoice has been satisfied by your customer. You will have increased Cash Flow using this Funding Option. In doing so, your additional Working Capital will give you the opportunity to pay your suppliers as required and take advantage of early payment discounts. You can use the Funds Advance to cover payroll commitments and increase your business.
3. What is the Benefit for my business to use the Financial Services of an Export Receivables Factoring Company?
In short, you will free up your Working Capital. Rather than making International calls to your clients in efforts to collect on your outstanding invoices you will be able to focus on operating your company as rather than making collection calls. With the new found Working Capital you will be able to increase your inventory and save money when utilizing supplier discounts.
4. Which types of industries generally use an International Trade Finance Company?
There are very few industries we do not work with, the general commonalities of the clients we have are as follows:
- Quickly growing companies. Most have no availability left on their Bank Operating Line of Credit and require more Working Capital to meet their needs. Import Export Factoring is able to satisfy the requirements of these fast paced growing companies.
- Do not meet the eligibility requirements for bank financing for one reason or another. Many banks cannot look beyond their own borders to see the Asset that is there which has great value.
- Leveraged buyouts are becoming more popular for Factoring Companies as what is important is the source of the payments, not where the payments are being sent to.
- Some clients are simply looking for short term funding while they go through the application process with their bank. This bank application can be quite long and without a bridge funding source; it would make carrying on business difficult with a restricted Cash Flow.
5. What are the types of clients that use Import Export Finance?
We provide Discount Factoring Services to many industries such as:
- Importers/Exporters (manufacturing, clothing, home furnishings, dry goods etc.)
- Advertising Agencies
- Trucking Companies
- Various Consulting Firms
- Temporary Staffing and Recruitment Agencies
- Distributors (electronics, food and beverages, sundries, etc.)
- Information Technology Staffing
- Printing Companies
- Media Companies
- Building Maintenance / Window Cleaning Services
- Armed Security Agencies
- Software Developers
6. Is the application for Export Credit Financing requirements as cumbersome as getting a loan form a bank? What can I expect in the process of the application?
Quite frankly, No. To get set up with International Trade Finance you will find the process much simpler. The quality of the end customers is far more important to us than having you fill out books of information. We will do credit check on your customers and if they have a good credit rating the deal will likely get done. They are the ones paying back the advance in the end. The terms of sale MUST be under 90 days.
7. Are there any transaction types which I cannot use Export Import Finance for?
We are not able to advance on International Accounts Receivable for the following:
- Companies that sell on consignment
- Pre-billing or progress billing arrangements
- Companies that have extended payment terms over 90 days
- International Construction Receivable transactions wherein the General Contractor has a first lien position
8. My Company has customers all over the world; are there certain countries that you will not accept Invoices from?
Absolutely, we have the capacity to advance on International Invoices from most countries worldwide.
9. Will it take a long time to set up my Company with Export Finance?
International Trade Finance turnaround times are longer than domestic. In most cases if we have a complete application you can expect to have your first funding within 2 weeks from the first conversation International Accounts Receivable Finance with one of our Account Executive Representatives.
10. I am not sure I want to do this. Tell me why I should be interested in International Trade Finance Companies?
Besides increased Working Capital you will find several benefits to using an International Trade Line of Credit. Some are listed below:
- You will be able to utilize volume discounts and early payment options as you will have increased Liquidity
- You will have the ability to increase your inventory now that you have more funds at your disposal
- You will be able reduce your bad debt as you will have access to International Credit Reporting through our facility
- You will have more time to focus on your business as opposed to calling around the world chasing after Receivables. Additionally, you will have a professional collections department at your disposal if when needed
- You can increase your advertising efforts.
- You will be able smooth out any sales fluctuations or seasonal variance strains on your Cash Flow
- You will be able in increase your order and shipping sizes which will give you an economy of scale advantage
- You will be able to offer credit terms to your clients and increase sales
- You will be able to have less assets encumbered as with what happens with traditional financing
- The advances do not show up as debts on your Balance Sheet as opposed to traditional Debt Financing
- Your Line of Credit using International Trade will grow with your sales, so you will not max out your Line and have no availability as with Bank Financing