Import and Export Financing Solutions
Effective export and import financing strategies can help your business face its financial challenges and risks—and let you focus on your core business: buying or selling abroad
For almost 40 years, Accord has helped import and export businesses, like yours, succeed by providing a variety of import and export financing options, specifically tailored to help your business grow. From foreign exchange forward contracts to export credit insurance and financing solutions for importers that range from purchase order financing to receivables factoring, we have the right products and strategies to help you grow by mitigating import and export financing risks.
Successfully reaching into foreign markets hinges on your ability to navigate the various import and export financing risks, be it foreign exchange fluctuations, concern over credit risk or financial strain due to banking constraints.
We understand your import-export financing needs and we are here to help you succeed.
Import Financing Solutions for Your Business
As an importer, timing is key and it is essential that you have the necessary financing to navigate the process, from paying for goods, shipping to customers and collecting on your invoices. Successful, on-time delivery of your product and profitability depend on these factors and financing your flow of goods should be the last of your worries. With Accord’s import financing, you can focus on growing your business.
Letters of Credit and Documentary Collections for Import Financing
Your import financing is crucial, because with purchase orders on hand, but lack of capital to pay for product, your growing import company can find itself stalled by suppliers who demand up-front payment or Letters of Credit, which is the most common of all import financing methods.
Typically, opening a Letter of Credit with a bank requires that your company qualify for a conventional line of credit, or that you secure the Letter of Credit with cash. Many growing import companies, who find themselves in need of Purchase Order Financing, do not meet the prerequisites of bank lines or do not want to tie up their cash flow, in order to secure a Letter of Credit.
Accord’s import financing offers Purchase Order Financing for growing companies whereby Accord opens Letters of Credit on your behalf, with minimal reserves, allowing you to turn your cash into sales.
Furthermore, once those goods are paid for, Accord will carry the loan, using your inventory as security, until you turn it into receivables, keeping you continuously covered.
Unlock value with supply chain finance
Importers with existing bank facilities can boost their purchasing power with supply chain financing from Accord. The AccordOctet supply chain financeprogram gives you a revolving unsecured line of credit, boosting your buying power without affecting existing financing facilities. Use AccordOctet to:
- Pay your suppliers fast
- Negotiate discounts for quick payment
- Handle peak seasonal periods
- Take up to 120 days to repay Accord
AccordOctet effectively unlocks capital tied up in your supply chain. Use our money to pay your suppliers and pay us back as you collect from your customers.
Export Financing Solutions for Your Business
Export businesses face similar issues, requiring export financing but with the added challenge of securing payment from foreign customers. When faced with questions concerning credit insurance and wondering which coverage is right for your export business, it helps to have experience in your corner.
Credit Insurance Supports Export Financing
Through our years of experience, Accord has worked with export companies shipping around the globe, assisting in the management of their credit insurance. Our experienced staff and professional partners have the expertise to walk you through the ins and outs of insurance policies and can work to get you the most secure and relevant export coverage.
Import and Export Financing Solutions
Protecting Against Foreign Exchange Risk in Import and Export Financing
How do you protect yourself in a market where foreign exchange fluctuations can mean the difference between profit and loss? Sudden jumps or dips in foreign exchange can result in significant swings in your gross margin and, while some swings can be profitable, others can be devastating.
With Accord’s ability to secure foreign exchange forward contracts on your behalf, you can avoid playing the foreign exchange game and focus your attention on growth, secure in the knowledge that your bottom line is protected.
Receivable Financing and Factoring as Import and Export Financing Solutions for your business
With your supplier now paid and your product successfully delivered to your customer having a continuous flow of cash is important for you to begin the cycle again. Your import or export business is a moving force and it is cash that drives it.
Accord turns receivables into cash, by financing your accounts receivable, allowing you, as an importer or exporter, to have the funds needed to make payroll, pay payables and set up any deposits required by suppliers in order to fulfill new orders.
In a fast-paced business, not having to wait to get paid can give you an edge and help you to attain your growth objectives. Accord’s import and export financing solutions do just that.
Accounts receivable management – take the risk out of your receivables
With flexible financing in hand, your next challenge is the risk hidden in your customer list. As an importer or exporter, if your customer can’t pay you, who will? When you guarantee your accounts receivable management through Accord, we will.
Accord has been managing accounts receivable for importers and exporters for nearly forty years. We know how to make sure your invoices get paid on time. And when we set credit guarantees for your customers, you get risk-free credit protection, guaranteed.
Is Accord the right fit for my import or export business?
If you have sales of over $2 million per year and you import, export or both, we have the right solutions for you. Accord has provided import and export financing for companies such as yours, in a variety of industries, including:
We are dedicated to understanding the unique needs and challenges of your import and export business—this ensures that our comprehensive financing solutions are packaged specifically for you and your industry.
IMPORT & EXPORT FINANCING FAQ
INTERNATIONAL TRADE FINANCING FAQ
Trade finance consist of financing specifically geared to respond to the needs of international trade.
These transactions typically occur on a global level involving the purchase and sale of various goods using instruments including letters of credit, international wire or SWIFT transfers, factoring, documentary collection and currency forward contracts.
Trade financing solutions help import and export companies get through times of financial challenges and risks.
Trade financing can provide the exporter with the goods needed and the importer with extended credit.
A trade loan is usually secured by sufficient collateral and allows the company to gain access to capital needed to reach its goals.
As a company in the import or export business you may be able to use one of the following trade finance solutions to help finance your business:
To get trade finance quickly, you must contact a lender who is experienced and knowledgeable in trade finance. With Accord’s trade financing, we work as fast as you do, to quickly provide a solution. Your company can be financed in as little as a few weeks.
Top trade financing companies have a knowledgeable team with extensive experience working through import/export financing with many companies just like yours.
Working with an experienced lender will provide you and your company with a critical resource in completing your trade financing.
With over 40 years of experience in trade financing, Accord has the expertise needed to help your business find a solution that’s right for you. Call us to learn how you can benefit from trade financing: +1-844-932-9940 (Canada) / +1-844-725-4225 (US).
Commercial risk refers to the counterparty risks that you take on when you participate in international trade.
These risks may include:
- nonpayment by your customers
- failure of your suppliers to meet their commitments to you
- currency fluctuations
These commercial risks can be exacerbated by other barriers relating to language and cultural differences. An experienced trade financing partner, such as Accord, can help mitigate these risks by giving you access to tools such as letters of credit, credit insurance and currency hedging.
Import financing refers to trade finance transactions specifically related to the purchase of goods from foreign suppliers.
IMPORT FINANCING FAQ
There are several types of import financing offered by Accord that could benefit your company:
Import financing supports your needs related to the purchase of goods from foreign suppliers while export financing provides financing to support your sales to foreign customers.
Accord offers a number of trade finance products that can be used by importers and exporters, including supply chain finance, accounts receivable management and guarantees, factoring and inventory financing.
Beyond the basic, intrinsic financial and operational risks of the financing process, some other import finance risks are:
- country risk (political and economic stability, customs, protectionism)
- foreign exchange risk (exchange rate volatility, speculation)
- bank risk (backing documents issued from unreliable banks)
- fraud (forged documentary credit, insurance fraud, stock theft, transport piracy)
Yes! Canadian and U.S. companies can take advantage of our variety of import financing and trade financing solutions.
EXPORT FINANCING FAQ
Export financing refers to trade finance transactions which support the sale of goods to foreign buyers.
Export financing options include:
- Supply chain financing
- Accounts receivable financing / Factoring
- Credit guarantees
- Accounts receivable management
Accord offers a variety of export financing solutions. Call us now to see which financing option is right for your export company: +1-844-932-9940 (Canada) / +1-844-725-4225 (US).
Export financing supports your export sales through loans based upon your accounts receivable and inventory, giving you access to additional working capital.
With access to this additional source of funding your trading company can finance sales growth and meet your daily operating costs.
One major benefit of export financing is that it can help you diversify your revenue sources, so you are not solely reliant on your domestic market.
By reaching foreign markets, you can increase your customer base; reduce customer, geographic and currency concentrations in your business; and expand your business footprint internationally.
With the right export financing solutions, you can accomplish this without tying up any additional working capital.
In addition to the inherent financial and operational risks, the specific risks associated with export finance include:
- political risk (tariffs, customs, economic stability, etc.)
- foreign exchange volatility and speculation)
- bank risk (leveraging or trusting documents from unknown foreign banks)
- fraud (forgery of credit documents, insurance fraud, stock theft, overseas piracy)
Yes! Accord offers export financing for your US- or Canadian-based company, no matter where in the world you ship too.