An increasing number of equipment buyers are seeking financing from their US suppliers, because they are either unable or unwilling to approach their country’s own lenders. A company that is willing to provide international equipment financing can open new revenue streams and improve cash flow – with the right approach.
How International Equipment Financing Works
When you work with Drake Finance for equipment export financing, you’ll get as much as 85% of your money in advance. We allow your international customer to pay gradually, and do not require a Letter of Credit, avals, or collateral from the buyer, meaning more clients will be able to work with your company without putting you behind schedule waiting for an invoice.
- Shipment Documents: U.S. exporter presents shipment documents including the invoice, purchase order, bill of lading, and an exporter’s certificate.
- Review: 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.
- Downpayment from Foreign Buyer: Typically, an international buyer provides the U.S. exporter the remaining 15% as a down payment.
- Drake Takes Collection of Downpayment: The international buyer then pays Drake Finance over time.
- Use Money to Grow Your Business: This allows the U.S. exporter to expand his or her business with confidence and better cashflow.
There are a few important things to note about international equipment financing with Drake Finance. First, the equipment has to be at least 80% US. It’s important to know where every component comes from.
We offer medium-term financing through terms of two to ten years, meaning we’re flexible enough to tackle most projects. Another benefit of working with us is the protection against risk through an Ex-Im Bank Guarantee.
Begin Your Process
Ready to see what international equipment financing can do for your business? Simply gather the last three years’ audited financial statements from the foreign buyer and submit the information to firstname.lastname@example.org. We’ll cross check with our criteria and contact you within 24 hours. Don’t miss out on new customers and opportunities – contact us today.