Import Finance Services
Import Finance will help you to close the funding gap between an order from a UK customer placed on credit terms, and the payment demanded by your overseas supplier.
Import Finance eases the pressure on cash flow and takes care of some potentially complex paperwork and procedures. With Import Finance, we can fund up to 100% of your overseas purchases, including freight, duty and VAT, all the way to the point that your UK customer pays your invoice.
Import Finance - how does it work?
Venture’s Import Finance service combines Trade Finance with Invoice Financing to pre-pay your overseas suppliers. In effect you only pay your supplier once your customer has paid you.
As part of the service, we raise and manage the Letters of Credit (LC) with your supplier, reducing the risks associated with importing, and reducing complicated paperwork.
Import Finance with Venture takes all the uncertainty, worry and financial unpredictability out of the import equation - and can give you cash flow a huge injection, right from day one.
Our Export Finance service is all about helping you to improve the efficiency of your export business, while reducing the risks. We can lower the cash flow pressure almost from day one, help you to cut-out complicated administration and improve credit checking and credit controls.
Through our international Factoring service you get up to 90% of your invoice value paid as soon as you raise it, easing cash flow worries. The balance (less our fee) is paid on settlement of your customer. With Bad Debt Protection you can get the reassurance you need to confidently grow your exporting business, and we can help you to safely move away from Letters of Credit to standard account terms, simplifying exporting for you and your customers.
Export Finance – how does it work?
You raise an invoice to an overseas customer in the normal way. Our Export Finance service then pays you up to 90% of the invoice value. If you choose our international Factoring service, we take responsibility for collecting the money you’re owed - and then we pay you the balance less an agreed fee, once the money is in. If you prefer to use our international Invoice Discounting service, you collect the money and we then pay you the balance once funds are cleared.
Through one of our associate companies based in the country of your overseas customer, overcoming many of the potential cultural, language and currency issues in one go. With Bad Debt Protection we can cover your business against the insolvency of customers or non-payment of undisputed debt.
Our business partners credit checks your customers locally, helping you to avoid bad debts and covering you against customers who fail to pay.
What Is It?
Our Export Factoring service offers you a complete package to help you develop your overseas business profitably and with confidence.
Not only do we provide an immediate injection of cash against the value of your outstanding export invoices but then as you raise an invoice, we can release up to 80% of the value of that invoice within 24 hours. The remaining 20%, less a small service fee, is paid to you once your customer pays.
This means your business has access to an ongoing supply of cash linked to your sales. So as your overseas business grows so does the amount of funding available to you.
In addition to the cash that we can provide, we also remove the hassle of dealing with overseas customers, by chasing and collecting outstanding invoice payment from your overseas customers. Working with you, we decide whether to use the services of our in-house multilingual team or to use our worldwide network of associated factoring companies.
We will prepare and send out statements and telephone your overseas customers, always communicating with them in their language. We will collect payments for you, and maintain professional and detailed accounts of your transactions.
We can also help in smoothing out the problem of fluctuating exchange rates by offering multi currency facilities. We have overseas bank accounts for fast, low cost receipt of payments.
We can also offer up to 100% credit protection.
You remain in control by working with a dedicated team of people who ensure your customers are as happy to deal with us as they are with you.
Export Factoring - How Much Does It Cost? Our services are tailored to your business so the fees will depend upon your specific needs.
There are two types of fee. The first is the cost of the money you use, which is extremely competitive when compared with other forms of finance. The second is a service fee.
International Banking and Trade Finance
Global Asset Finance is an independent trade and asset finance specialist that operates throughout the World, in association with our Global banking business partners.
We can assist your business with all your international finance and banking requirements, contact us to see how we can add value to your International banking requirements.
Headquartered in London, we have an international network comprises in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, through our business partnerships.