Top 5 Simple Ways to Access Import Trade Finance

There are various types of import finances that you ought to know. They include factoring, revolving credit, letter of credit, asset financing, among others. With such a variety of options available, the requirements tend to vary from one financier to the next. There are specific guidelines that you must adhere to ensure your international e-commerce business to be eligible. Below are simple ways to get access to import trade financing;

  • Show your business generates consistent cash flow

When you are looking for a financier, they will require assurance that your venture generates continuous cashflow. It may be quite challenging, especially when you are searching for these finances.

Nonetheless, you ought to make an incredible and convincing image. Nobody will invest in a shaky enterprise. One way to show you have a trustworthy business by paying employees on time. You can also provide a statement on how you’ve been crediting all your creditors within time. You need proper documentation. As a slight change can make or break your eligibility for a loan.

  • Have a minimal debt load

You need a clean slate balance sheet. It should depict that you can keep all your debts in check. Trends on debt repayment are the easiest way for money lenders to know if you are reliable or not.

You need to prepare a robust financial defense while requesting an additional loan. You ought to illustrate how it will grow your international e-commerce.

  • Have a stellar payment history

Credit reports generated by independent 3rd parties ought to depict that you can be trusted. Having your payment proof isn’t enough. Some unscrupulous traders may forge their payment history. It thus puts everyone in jeopardy.

You need to inquire about any report that might discredit your chance of getting a loan. You need to note all the loopholes so that you can fix them.

  • Compare financiers

You need to compare various import/export eCommerce financiers, including Qupital Hong Kong. You must never settle for any financier even if you find yourself in a challenging situation. Take your time to analyze various financiers and check out their services. It will enable you to compare multiple rates as well as their repayment periods. Making a comparison will allow you to get the best deal possible finance deal in the market.

  • Use the inventory to secure a loan

Another way to access international trade finances is by using your catalog. You can evaluate the goods you have in store. After that, you can apply on loan basing the amount on the inventories’ value. It’s a fantastic chance to ensure your business stays afloat without having to dissolve it. 

You must have a good credit history before you decide to use the inventory to offer your business the finance it needs. You ought to create a product list and value.

You must have a financial plan each time you head out to request international trade financing. Various import/export financers, including Qupital Hong Kong, are ready to support your global e-commerce. You can use the above ways to get your next international e-commerce finance if you are low on cash flow.