Business Banking needs for Importers
Importers have specific business bank and commercial finance needs
Not all business banking is created equal
At Just Business Financial Services we know what importers need from their business bankers. With our extensive network of financial institutions specialising in the international trade space we, are able to provide the best service and the most competitive prices. That’s why all our import services are designed to help you trade with assurance. We know that importers needs are extensive and specialised:
Importers need a secure way to receive your goods >READ MORE
Importers require a trusted payment method so you can import with confidence >READ MORE
Importers need finance solutions to allow you to pay your supplier promptly and negotiate better terms while improving your cash flow. >READ MORE
In Australia, importers face foreign currency risk and payments and hence an efficient, cost effective and easy to use platform is necessary
Many importers have stock levels that need to be financed and hence their working capital requirements go beyond just the importing period
Some clients have discovered that they can expand their returns by also investing in their business and purchasing their commercial premises. This not only provides more security in their long term work location plans but also allows them to participate in the growing Australian property market. Traditional business loans can provides them with a good foothold in this market but advice on the best way to structure these with your business bank to get the most cost effective solution is paramount. >READ MORE
As the business expands, importers have a growing need for plant and equipment including (and certainly not limited to) vehicles, pallet wracking, and forklifts. These things need not suck cashflow out of the profit making business and infact, if structured correctly, can inject further growth into the business. >READ MORE
Today’s competitive markets creates opportunities for mergers and acquisitions of clients, competitors or suppliers. These require detailed proposals for your business banker to truly understand the vision of the move and be onboard. “Bank speak” can be different to what importers have planned and someone specialising in the arena working in your favour can be extremely useful and sometimes the difference between doing the transaction or not.
Business Banking for Importers doesn't need to be complicated
All of the above business banking and commercial finance needs doesn’t need to be complicated! At Just Business Financial Services, we will represent you and get you a tailored solution at some of the most competitive prices in the market and with the most trusted financial institutions. For a no obligation discussion, call us on 1300 96 25 95 or contact us via this form.
At Just Business Financial Services we are not simply a finance broker since we know how important it is to specialise in the business industry. Small businesses have specific needs that are unique to their space. We know that for some, debt is not the most important part of their finance needs. We take care of business’ full business finance needs including transactional, business loans, asset finance, trade finance, foreign currency, debtor finance and merchant services.
Our extensive experience in the finance industry has taught us that small business clients want 3 things from their financial service provider:
One business bank relationship manager for the life of their business
Great service in regards to all banking products and services - not just the loans
The best price for all the finance solutions
No one single bank can provide any of these finance solutions all the time. At Just Business Financial Services, you are always dealing with the director and hence you will have one relationship point for the life of your business. Since we are not beholden to one bank or financial institution, you will always get the best price and service. Most importantly, however, we understand that for small businesses, lending and debt is not always the most pressing concern and so we specialise in business bank loans, transactional solutions, foreign currency, working capital, advisory and all other facets of financial requirements that businesses have.
If you're looking for a secure and cost-effective way to trade with confidence, Import Collections let you pay your supplier after your goods have been shipped. After the goods are shipped, your supplier presents shipping documents such as invoices, insurance certificate and bills of lading to their bank, along with their payment instructions. The supplier’s business bank then forwards them to your bank for payment.
Your bank acts on behalf of the supplier's bank to collect payment from you - or a promise that you will pay at a later date if that's what you've agreed with your supplier.
To find out more, contact us, your trade finance specialists.
Letter of Credit
The oldest and most common form of short-term trade finance is the letter of credit also known as a Documentary Credit.
A letter of credit (LC) is essentially a pledge to make a payment – issued by a commercial bank on behalf of its importing client. It is a written undertaking that a bank gives on behalf of its customer to pay the exporter an amount of money within a specified time frame – as long as the exporter complies with certain terms and conditions.
The importer bank provides the LC to the exporter (or exporter’s bank). The document essentially says: “I’ll pay you XX amount – if you ship the right goods to me.”
In this way the exporter is not taking the payment risk on the importing corporate, but on the bank. (Key to the use of LCs is the concept that bank risk is usually considered lower than corporate risk.) Letter of Credits are particularly useful where the buyer and seller may not know each other personally and are separated by distance, differing laws in each country and different trading customs. >LEARN MORE
Trade finance is the financing of international trade flows. It exists to mitigate, or reduce, the risks involved in an international trade transaction. Secure trade finance depends on verifiable and secure tracking of physical risks and events in the chain between exporter and importer. The advent of new information and communication technologies allows the development of risk mitigation models which have developed into advance finance models. This allows very low risk of advance payment given to the Exporter, while preserving the Importer's normal payment credit terms and without burdening the importer's balance sheet. As trade transactions become more flexible and increase in volume, demand for these technologies has grown. >LEARN MORE
To find out more, contact us, your business bank trade finance specialists.
Commercial or Business Loans
Commercial loans or business loans are the primary source of funding when you need the money for a term longer than one year. The debt can be secured by traditional residential or commercial property, “non-traditional” assets as well as the business itself.
The interest rate used in loan is based on a number of business bank based matrices, including the type of security provided, the purpose of the loan, and the source of income used to service the loan. The bank's cost of fund as well as their existing loan book also affects the interest rate and of course, the customer's negotiation skills! >LEARN MORE
There are many types of asset finance offered by commercial banks. Choosing the right option has both cashflow and tax implication. Asset finance is a type of finance used by businesses to obtain the equipment they need to grow. It usually involves paying a regular charge for use of the asset over an agreed period of time, thus avoiding the full cost of buying outright. Make sure you engage the right advisor to give you advice on which option is best for you Contact us >.
Asset finance can be used to fund any asset – ranging from telephones and photocopiers to forklift trucks and aircraft. It could be the perfect solution if your business needs new equipment that might otherwise be unaffordable. >LEARN MORE
An in-depth knowledge of all these issues is essential be able to choose the business finance solution with the best financier. If you have any questions, please feel free to call us directly on 1300 96 25 95.
All too complicated?
Running a business is hard enough, if you want some advice on you can take advantage of this type of funding, feel free to contact us.