In recent months we've seen an increase in the number of alternative lenders offering trade finance solutions. More businesses are sourcing overseas suppliers for both quality and cost efficiency, with an increase in consumer demand and extended peak sales periods also driving the growth of Australia's import market. As a consequence, SME demand for increased working capital is on the rise.
The world's largest trade fair (the Canton Fair) is just around the corner and thousands of SMEs will take up the latest in freshly available products. So now is a great time to review the funding options available to assist businesses to take advantage of these opportunities.
When it comes to funding imports, it is encouraging that SMEs now have choices to ensure:
- Sales orders can be accepted with the confidence of knowing the purchase of goods can be funded;
- Importers have greater power to negotiate with suppliers
- Funding as a barrier to growth can be eliminated.
- They won't need to mortgage their home to fund their business.
At Scottish Pacific, we have been providing working capital facilities to Australian and New Zealand based businesses for over 28 years. We were amongst the first of the non-bank lenders to embrace Trade Finance and we have the most comprehensive range of solutions available in the market place via;
- Tradeline, a stand-alone and unsecured line of credit.
- Import Finance, a complete supply chain solution
- Export Finance, funding for export debtors
What's more we understand that China is a key source country for many importers. We also understand the challenges in working with Chinese suppliers. To ensure success in China, Scottish Pacific clients have the unique benefit of an office based in Guangzhou (Southern China), which gives our clients access to local representatives on the ground who are there specifically to liaise with suppliers to ensure a smooth shipment process.