Name: Grow Funding
Address: 27A Goring Road, Goring By Sea, West Sussex, BN12 4AR, United Kingdom
Telephone: 01903660091
Price range: Competitive
Rating: 5

Trade Finance with Grow Funding

If you are a seller (exporter) or a purchaser (importer) buying and selling goods within the UK or internationally, a bank or independent finance lender could help fund these transactions. Funding trade deals usually presents itself as a letter of credit (LOC), or a Bank Guarantee (BG). Trade finance is simply financing the movement of goods.

Just like other business finance products such as loans, supported formal documentation is usually required. The additional documents that could be required for trade finance is a bill of “lading” along with exchanged contracts. Also, the use of tracking / loading software could help with the lending decision as modern technology allows high monitoring of movement of the export/import, this technology improves the risk of the transaction.

Products and services

• Letter of credit:

This is a promise letter given by the buyers/importers Bank or lender to pay the exporter. This will be subject to the terms of the purchase agreement and meets the required terms set out by the Banks/lenders agreement.

• Bank guarantee:

This is a promise given by a Bank or lender on behalf of the Applicant and in favour of the Beneficiary.

The experts here at Grow Funding specialise in trade finance and our friendly team are here to advise you. We even take out the stress on managing the process and we can complete the application for you.

Grow Funding are experts in a wide range of commercial finance products, and we have achieved outstanding results for all our clients, by matching the right financial product for their business funding needs.

Get in touch today and take advantage of our free consultation and advise service!

T: 01903 660091 E: expert@growfunding.co.uk W: www.growfunding.co.uk

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Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.

Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.

Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.

Here is one of our case studies of asset-based invoice finance –

Case Study - Feb - 2019

Invoice factoring for Essex based building company

This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.

The Advantages:

• Credit insurance to protect you against bad debtors

• The funds are secured and valued against your assets

• Funds can be used for any business needs

• There is the possibility of being flexible in comparison to loans and overdrafts

Mail

Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB

01903 660091

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