Improve your purchasing power and access international markets with Scottish Pacific Import Finance.
Scottish Pacific provides clients with a range of smarter import finance and trade finance solutions when sourcing goods from global markets. Scottish Pacific can provide a cash flow finance solution that starts from the time orders are provided to overseas suppliers, through the manufacturing and shipping process, right up until the time payment is received from customers.
We can fund up to 100% of the cost of goods and provide risk protection against foreign exchange losses. Additionally, at Scottish Pacific Business Finance we take the time to understand your business and this means our solutions generally do not require security over real estate. We offer a range of payment options including Letters of Credit, Documentary Collection and Telegraphic Transfer.
Scottish Pacific Import Finance delivers real solutions for importers!
Talk to one of our Import Finance and Trade Finance specialists about a tailored solution that meets the needs of your business.
An example of how Scottish Pacific helps Importers
- Importer of ladies fashion accessories selling to boutiques across Australia and New Zealand.
- Sources product from China, Italy and Spain.
- Recently changed to Letter of Credit terms with suppliers meaning that deposits were no longer required improving cash flow significantly.
- Orders are received from customers prior to arranging seasonal deliveries.
- It can take up to 4 months from the time the client places the order with the supplier until the goods are landed in Australia. With customers paying on terms once goods are delivered, it can take up to a further 60 days to be paid. This means the client has a 180 day cycle between ordering the goods and receiving payment.
- By combining Import Finance with Debtor Finance, Scottish Pacific delivered a funding package for 100% of the cost of the goods combined with Foreign Exchange protection.
- The client is growing quickly with the confidence of knowing that the import finance facility will support increased purchasing from overseas suppliers to support the growing sales base.
How Import Finance Works
Import Finance is flexible and can be tailored to meet the specific needs of a business. An example of the transaction process is as follows.
- Client receives an order from their customer
- Application provided to Scottish Pacific
- Import Finance transaction approved (letter of credit and currency protection initiated if applicable)
- Goods produced and shipped
- Supplier paid, and Import Bill created
- Goods landed, cleared and delivered to customer
- Import Bill repaid from Debtor Finance proceeds
- Customer pays and Debtor Finance cleared.
Import Finance FAQs
- Who can use Scottish Pacific Import Finance?
Import Finance can be used by businesses that import goods to sell to other businesses.
- From what countries can goods be purchased utilising Scottish Pacific Import Finance?
Import Finance can be used to pay for goods imported from almost any country.
- What is the maximum term (tenor) allowed for Import Finance?
Import Finance is tailored to meet the specific needs of the business. However solutions can be structured to provide total funding solutions that encompass periods exceeding 180 days.
- What type of goods can be imported using Scottish Pacific Import Finance?
Import Finance is specifically designed for importers of finished goods. However if the business is importing raw materials or components there are other options which can be tailored to meet the client's requirements.
- What security is required for Scottish Pacific Import Finance?
Import Finance is offered in conjunction with Scottish Pacific Debtor Finance. Generally no additional security is required.
- Does Scottish Pacific offer an import finance option that does not include Debtor Finance?
Yes, Scottish Pacific has a range of trade finance options for all types of businesses including retailers.
- How much does Scottish Pacific Import Finance cost?
Import Finance is very competitively priced. Interest is charged once funds are remitted to the overseas supplier until the amount is repaid and an Import Finance fee is charged based on the amount paid to the supplier. Fee levels vary depending on the client's business and their requirements.
For more information about how we can help your business, fill out a quick enquiry form or call us on one of the following numbers: