Cash-flow is the lifeblood of any business. Yet, quite often, businesses find themselves short the much-needed cash to oil its engines.
The easily taken alternative is often commercial loan. This route can, however, be cumbersome and often too expensive and the processes involved could easily have a business time-barred in a deal.
With innovation in the financial services sector, businesses in need of cash to finance their urgent operations can find help in trade finance. This arrangement involves facilitation by Co-op Bank to enable the business or business owner to fund various trade processes such as importation, LPOs and clearing up of other contracts.
According to the Co-operative Bank, Trade Finance is the most affordable way to fund business without taking up a loan. Through its trade finance product, Co-op Bank is turning cash-flow nightmares into fulfilled deals and ventures.
With a wealth of knowledge in trade finance delivered by an experienced team, Co-op Bank’s product ensures business remains on the winning way. “We provide an array of services that enable importers and exporters to conduct international transactions that facilitate the movement of goods and services from one point to another, both locally and internationally,” says the bank.
The trade finance instruments available from Co-operative Bank include:
- Bid Bonds
- Letters of Credit
- Performance Bonds
- Custom Bonds
- Advance Payment Guarantees
- Credit Guarantees
- LPO Financing
- Bills Discounting
- Invoice Discounting
- Post Import Finance/Import Duty Finance
- Supply Chain Finance/Distributor Finance
Some of the key advantages Co-op Bank trade finance include quick processing time, managing risk, negotiated credit terms and flexible repayment period. Also, the bank ensures secure work permits for foreigners working for the business. More importantly, businesses have access to unsecured trade facilities.