Import Finance Business Loan

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When you would wish to bring some goods to a country, then you need some capital to accomplish this. It is called import finance. For doing so you can always approach NBFCs for a business loan. These establishments will not be rigid as banks do. So you can get loan approval easily. Let us explain you in detail about import finance and thus feel glad that we at FlexiLoans will provide you with a business loan.

In general, the transactions due to import finance will be a burden on the business cash flow. This is because of the delay and complication involved in making payment and waiting for the goods to be delivered. Also, the change in the rates of the shipment and other tariffs for imported goods will become a huge investment.

There is an increase in international trade in recent years but business people struggle for finance.  We are now extending support in this area to help you reach your goal in your business by importing goods from any country.

Why Import is preferred

Even though it requires money for importing goods, there are several benefits by getting things from abroad. They are as listed below.

  • Quality

The quality of the goods is certainly superior when they are imported from the country that has the real source for the products.

  • Cost

Cost of such items purchased in bulk will certainly be less than bought locally. This cost saving will be huge when compared to the import charges or fees paid.

  • Competition

Finally, always one can win the competition by importing goods from the right place and hence you can make a profitable business.

Need for an import finance business loan

However, having given the edge of importing goods from another country you must plan to play it safe. The best option is to apply for a business loan.

  • This will help you save your working capital which can be used for other expenses.
  • You can also manage cash-flow as you have decided to individually apply for a loan.
  • There are many financial institutes coming forward to offer loan with minimal terms.
  • Even the documentation process and time consumed are less when compared to loans given in banks.
  • Also, you can earn the trust of the provider of the goods by paying money on time. Getting goods on-time will be possible by making payment in full.

Advantages of Import Financing

  • Import finance does not affect the existing relationship with the bank as they are off-balance sheet instruments
  • The importer need not lose any business share
  • Also, they can flourish without disturbing the equity.

Types of Import Finance Loans

There are many types and you can check with us individually to know how we can help you with a business loan.

  • Trust receipt business loan – The financing company will provide a guarantee certificate for the buyer.
  • Import invoice factor – Here you can sell or shift the liability of your AR.
  • Import bills collection
  • Credit offered against the letter of understanding (LOU), shipping guarantees
  • Asset backup facility  -This type of loan is secured with one of the following and you can pledge them as collateral. They include inventory, equipment, AR, or buildings, etc.

Features of import finance business loan

Extend your capital investment by taking a loan for import finance. The following are the best features offered in import finance loan

  • Financing option can be fixed repayment or variable repayment. You can choose this model based on your financial status
  • Drawdown the process for every transaction
  • A maximum of 100% advance on the order value is provided as the loan amount
  • The loan provider act as a mediator between the importer and the provider of the goods.

Documents required

  • Financial statement of the business which is well audited
  • Business plan in detail
  • Forecast of future cash flow
  • Credit reports
  • Company board of director’s details and reference check
  • Details about the company liabilities
  • KYC documents of the company

Import finance goods eligibility

You can apply for import finance loan with us for importing the following goods

  • Automobile parts
  • Baby care products and  toys
  • Clothing
  • Furniture
  • Electronic Goods
  • Hardware and Sanitary materials

Why FlexiLoans for Import finance business loan

  • At FlexiLoans we offer loan up to one crore and you can now use this for importing goods. This will be separately considered from other business loan and hence you will have the freedom for carrying trade with overseas.
  • You can import goods in more than 100 cities in India and we will be providing you with a loan. Therefore start planning for any business and in any location.
  • There is no demand for any collateral and absolutely no hidden charges. You can take help from us to provide with a letter of credit to the provider of the goods.
  • We follow a hassle-free process. You can complete the application process in 30 mins. Wait for not more than 2 business days to hear from us.
  • Our charges and fees are nominal and we can discuss that as a case to case basis.
  • There is no need to run around for paperwork as you need to upload all documents online.
  • We can further clarify all your questions about EMI. Yes, we will explain about the monthly amount payable depending on your loan amount. There are no pre-payment penalties.

How to apply

  • Click here to complete the application process
  • Fill the details including your personal details, company details, and about the import goods
  • Upload all documents like your age proof, address proof, PAN card, and financial details.
  • Click submit to complete the process
  • You will hear from us within 48 hours

Looking forward to serving you with a business loan and make your importing business grow.