If you're importing goods, our tailored import finance could help you improve cash flow, negotiate better terms with suppliers and pay them more promptly.
How does it work?
• Sikamaster Loans provide you with short-term, trade-related working capital for your international purchases on a pre-shipment or post-shipment basis
• We pay your suppliers directly (via an Letter of Credit, LC, from our banking partners) based on the invoice and transport documents
• Loans can be provided on a stand-alone basis for open-account transactions, or coupled with LCs or Import Collections where you have a post-shipment funding gap
• Provides funding based on your trade cycle
Can be arranged in any major currency
Import Letters of Credit
• If you import goods, protect both yourself and your supplier with an Import Letter of Credit, a secure payment method for settling international trade
• Provide your suppliers with more security of payment
• Use it to negotiate better terms, such as increasing the credit period
• After the goods are shipped, your supplier presents shipping documents such as invoices, insurance certificate and bills of lading to their bank, along with their payment instructionsThe supplier’s bank then forwards them to your bank for payment.
• Your bank acts on behalf of the supplier's bank to collect payment from you - or a promise that you will pay at a later date if that's what you've agreed with your supplier.
• A promise to pay usually involves you accepting a Bill of Exchange
• For use with letters of credit, import collections and stand-alone open bank account transactions with regulated partner banks.
• Maximise your working capital• Pay your suppliers more promptly to negotiate better terms
• They improve your cash flow by bridging the gap between the time when you must pay for imported goods and the time when you receive payment for selling them.
• They enhance your bargaining power with overseas suppliers, because you’re able to agree to faster payment terms.
• They enable you to pay suppliers promptly, building your business credit rating and reputation
• Business website mandatory
• Business be registered - either as a sole proprietor or limited liability company.
Fees & Charges
Repaying Your Loan
How to apply
Kindly complete an online application here.