Import Finance is short-term & long-term finance, funding the gap between receiving the goods and sending the payment. It is generally provided by a third party. Import transactions can be a substantial drain on a company’s cash flow because of delays and obstacles. Many times, payment is made in advance for the goods to be delivered. And the Company’s cash-flow burden, changing freight rates, and import tariffs add costs and uncertainty to the transactions.
One of the many ways to get import financing is by approaching financial institutions like banks and credit unions that offer options including asset-backed loans, regular loans, business credit cards, and overdrafts.
eFUNDZZ understands that, while they might work for some businesses, the reality is that traditional financing is not easy and usually require long-term contracts as well as huge collaterals. Therefore importers might want to explore other options. This is where eFUNDZZ steps in and reduces the cumbersome process of procuring import finance.