The first couple of months of the year has been quite busy for trade finance with a couple of completely different deals worthy of a mention.
A company importing products from the Far East against firm order from a TV shopping channel had funded the transactions from their own resources, reaching a turnover of £750,000 per annum within six months with just two products to this one customer. With the size and frequency of orders ever increasing the company had to turn elsewhere so we arranged a trade finance facility for them in conjunction with invoice discounting meaning that they could now increase turnover substantially without having to worry about financing the sales.
An established and profitable company with a large bank balance received a single order to supply computer hardware to a Blue Chip customer which they were unable to finance as they had to pay for the goods prior to receipt. We were able to source a funding line for them to enable them to fulfill this highly profitable order.