How does Trade Financing work?
Here’s how a typical Trade Financing arrangement works:
- Apply online and if you’re successful, we’ll approve you and give you a facility limit.
- Place an order with your supplier (domestic or offshore).
- Present a draw down request for Earlypay to pay your supplier.
- Earlypay makes the payment to the supplier.
- The goods are shipped and delivered.
- Your business repays the Trade Finance transaction through the Invoice Finance facility with Earlypay.
Our Trade Finance solutions are flexible and can be tailored to meet the specific needs of your business.
Who can use Trade Financing?
Our Trade Finance services can be used by businesses that import goods to sell to other businesses.
We can fund the purchase of non-perishable* goods that are ready for market or require simple modifications/assembly.
*Perishable goods will be considered where there is a strong case (e.g. track record, additional security etc)
Which countries can I import goods from?
Trade Financing can be used to pay for goods imported from almost any country, including Australia.
What security is required for Trade Financing with Earlypay?
We don’t use your real estate or personal assets as security to offer you finance. Our Trade Financing is offered in conjunction with our Invoice Financing.
What currencies are available?
We can pay suppliers in multiple currencies.
How much does Trade Financing costs?
The cost of our Trade finance services depends on the type and duration of the facility and the services you require.
Do I need to pay any deposit before any payment is made?
No. We pay 100% of your supplier’s invoice. You can then pay it back to us based on the agreed terms.
You can choose to pay part or full amount of finance early and there will be no penalty or fees. You will only be charged interest for the period the loan was outstanding.