In most circumstances, we are happy for you to continue using your existing freight and logistics partners. We do need to be noted on your freight insurance policy as an interested party, and can liaise with your insurance broker to meet this requirement.
Yes you can. Creative Trade Finance are able to work with numerous independent factoring and invoice discounting companies. If you do not have a current provider, we can happily make a recommendation for you. If you already have a provider, then we will happily discuss your requirements and make the necessary arrangements with them.
Trade Finance allows you to bring pre-sold goods into the UK, allowing you to fulfil larger orders which would normally be out of your reach. We buy the goods on your behalf, meaning order placement isn’t restricted by your cash flow. We can finance up to 100% of the landed cost of goods i.e. deposit, balance, VAT, duty and freight.
Ideally, you will contribute towards the deal, typically by paying towards any deposit payments to suppliers. Asking you to have some ‘skin in the game’ is a way of sharing the risk and showing your commitment to the transaction. This will also help to keep your funding costs down.
Our Trade Finance facilities start at £25,000, but can be as large as £200,000 for new clients. We can consider going above this level for clients who have established a good quality trading relationship with us, and will review facilities as required, against your track record with us.
Typically, we allow funds to be outstanding for up to 120 days. This period will cover deposit payments (if any have been paid by Creative Capital), manufacturing, shipping and final delivery of the goods.
Trade Finance facilities are repaid in a number of ways. Creative Capital will typically take assignment over the final invoice, which your customer pays direct to us. The residual balance is then paid to you. In order to accelerate this process, we will normally use our Selective Invoice Finance Facility which means we are repaid more quickly, and you can use your facility again. If you require a full factoring or invoice discounting facility, then we can work with a range of lenders to facilitate this, and will happily recommend people.
You continue to negotiate with your suppliers as normal.
Trading history is preferred, although it you have satisfactory quality control inspections, then we can consider new relationships
A Trade Finance Facility is secured with a debenture which gives Creative Capital title over stock. As with all of our facilities, we also require an unsupported, fully covering personal guarantee from all directors and major shareholders.
We can consider providing finance against any type of plant or machinery, as long as it is being financed by a hire purchase or leasing company once it is on site.
If you require any help submitting your application, please call us on 01244 561343.
We are available Monday-Friday, 09:00 - 17:00