U.S. Capital Equipment Export Financing Program
This program is ideal for U.S. exporters selling capital equipment to international buyers. Purchasing this type of equipment is expensive. U.S. exporters typically require payment upon delivery of goods which can be difficult for international buyers.
Our Equipment Export Financing program allows international buyers to pay for their equipment over time while Drake Finance advances up to 85% of the purchase order to the U.S. exporter with no Letter of Credit, collateral, or avals required of the international buyer.
How It Works
- U.S. exporter presents shipment documents including the invoice, purchase order, bill of lading, and an exporter’s certificate.
- Upon successful review, Drake Finance advances up to 85% of the international buyer’s purchase order and the U.S. exporter receives payment in as little as 48 hours from the time shipment documents are processed.
- Typically, the international buyer provides the US exporter the remaining 15% as a down payment.
- The international buyer then pays Drake Finance over time. It’s that simple!
Coverage & Terms
- Equipment must be at least 80% U.S. content.
- Medium-term financing available from 2 to 10 years, and more if the export is an energy product.
- Protection against risk through Ex-Im Bank Export Credit Insurance or Ex-Im Bank Guarantee.
- No Letter of Credit, collateral or avals required of foreign buyer.
- Submit 3 years of audited financial statements from foreign buyer to firstname.lastname@example.org.
- If our credit criteria are met, Drake Finance will issue a Letter of Intent within 24 hours.
- Drake Finance interacts with you and your international buyer to gather all required information and keeps you up to date every step of the way.
- Drake Finance prepares your Ex-Im Bank application and is reviewed by our legal counsel, Chief Credit Officer and Managing Principal before submission.
- Approval for financing averages 60 days. Once you are approved by Ex-Im Bank, Drake can begin financing.
Contact us for more information at (305) 854-0101 and speak with our Managing Principal, Richard H. Lopez, Esq. directly to discover how our program can help you grow your business.