![]() ![]() You don’t have to present a business plan, pass credit checks, or otherwise jump through hoops that have traditionally made it difficult for new and small businesses to get funded. Very often banks do not finance international deals because they don’t work in jurisdictions other than their home countries. Invoice factoring for small business is a preferred financing method because it works by advancing money you’ve already earned. It will provide funding where banks often won’tįinally, Stenn specializes in financing cross-border trade. For example, a company with assets of only $50 000 (USD) could finance a shipment of goods worth $500 000 (USD) if the buyer fits the criteria. It can also give smaller companies tremendous leverage. It also offers a much higher limit than bank credit typically would - up to $10 million (USD) per buyer - and covers you against the risk of your buyer failing to pay your invoice. Stenn’s online invoice financing is much faster than a bank (assessment is quick and funds are paid within 48 hours of only two documents being signed) and is better than a loan (it has no influence on credit history, needs no collateral, and requires no lengthy applications and interviews). Read more about invoice financing here.įind out more in this video from Stenn’s founder. This is particularly comforting when trading internationally with new buyers. Stenn’s platform provides what is known as ‘non-recourse financing’, which means that suppliers have no risk of non-payment. The cost of such financing is usually 0.65% - 3.8% of the invoice value (which equates to an Annualized Percentage Rate (APR) of 7.9% - 11.4%) and Stenn takes the risk of the buyer defaulting. Invoice financing means that sellers can offer such terms without tying up their capital and can deal with new foreign buyers without risking non-payment of invoices. In competitive international export markets, allowing buyers to pay later gives sellers a competitive advantage. ![]() It means that suppliers can get their invoices paid as soon as the goods are shipped, yet their buyers will not have to pay for them until later, giving buyers time to receive the goods and make use of them. If you run a new business or startup or are thinking about starting a business or expanding a business please call us to discuss an invoice discounting or factoring facility.Stenn’s invoice financing platform provides fast payment of invoices and frees up working capital that could be tied up for between 30 - 120 days in international trades. ![]()
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