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Import and Export Loans

Import Loan

An Import Loan is a short-term cash advance that enables an importer to meet his immediate payment obligations. Under such arrangements, Credit Bank finances clients import commitments by making payment against the Letter of Credit or Documentary Collections and receives payment from them at a predetermined date in the future.

Here, the credit period between the time that we provide financing and the time the client repays the bank should be sufficient for either manufacture of the goods for final sale or for direct sale to client’s end buyers.

There are pre and post import loans available depending on the stage of the import process.

Benefits

  • Access to more financial resources to clear goods from the port, manufacture, store or arrange for final sale to the end buyer.
  • The facility enables clients to pay bills on time and creates room to generate receivables
  • Clients are able to reimburse the suppliers on a sight basis or when the tenor is due, therefore be in a greater bargaining position – typically in terms of the contract price

This facility is available in local as well as foreign currencies.

Export Loan

An Export Loan is on the other hand working capital finance provided by Credit Bank to the exporter/seller prior to shipment or delivery of goods. A facility can also be provided against evidence of shipment of goods or supplies made to the importer. In this case, the exporter is able to unlock cash before the importer makes the payments where trade terms has allowed a credit period. Such a facility is called a Post Export Loan.

Benefits

  • Improves a business’s liquidity as the trader get paid for export bills in advance before the bills are due for payment
  • It eases cash flow position by providing greater financial liquidity & flexibility in administrating trader’s receivables
  • It allows the exporter more liberal terms of payment to existing buyers thus competing with foreign suppliers.

This facility is also available in local as well as foreign currencies.

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