Trade Finance: Ways To Raise It And What It Costs
Trade Finance: Ways To Raise It And What It Costs
You want capital tied to goods, invoices, and short cash cycles. Lenders want control, coverage, and proof you know how to ship, store, insure, and collect. Below are the instruments that actually fund, how they are underwritten, and the cost ranges you should plan for.
1) What Credit Desks Look For
- Demonstrable performance history and counterparty quality.
- Title or control over goods, enforceable contracts, verifiable flows.
- Insurance, hedging where relevant, and clear exit for each cycle.
- Clean KYC/AML, sanctions screening, and audited or review-level financials.
- “100% financing” asks with no equity or collateral.
- Leased-instrument cash-outs, PPP language, or Telegram screenshots.
- No title, no storage, no offtake, and “buyer pays later.”
2) Instruments That Actually Fund
Instrument | What it is | Typical advance / use | Indicative cost components | Keys to approval |
---|---|---|---|---|
Working Capital Revolver / ABL | Line secured by A/R and inventory with borrowing base. | Receivables 70–90%. Inventory 40–70% depending on type. | Base rate + ~300–700 bps; 0.5–1.5% upfront; monitoring fees. | Aging quality, dilution, inventory turn, controls, borrowing-base reporting. |
Receivables Purchase / Factoring | Sale or advance against invoices, with or without recourse. | Up to 80–95% of eligible invoices. | 0.5–3.0% per 30–60 days plus discount at base + ~100–400 bps. | Debtor concentration limits, dispute history, verification rights. |
Supply Chain Finance (Reverse) | Buyer-led program; suppliers discount at buyer’s credit. | 100% of approved payables. | Base + ~100–350 bps; program fees to sponsor. | Investment-grade or strong buyer, platform readiness, legal set-off. |
Import LC / Usance LC | Bank undertaking to pay exporter; can be discounted at tenor. | Face value per shipment; usance 30–180 days. | Issuance 0.5–2.0% p.a.; confirmation 0.5–3.0% p.a.; discount at base + ~100–400 bps. | Applicant credit, collateral or cash margin, country risk, documents clean. |
Pre-Export Finance (PXF) | Facility secured by export receivables and offtake contracts. | 60–80% of expected receivables per cycle. | Base + ~300–800 bps; 1–2% upfront; agency and security fees. | Offtake strength, performance record, escrowed proceeds, hedging where relevant. |
Warehouse Receipt / Inventory Finance | Loans against controllable stock under custody or repo. | 40–75% of market value net of haircuts. | Base + ~400–900 bps; custody and inspection costs. | Independent collateral manager, inspection rights, liquidation path. |
Forfaiting | Discount of medium-term receivables backed by aval/guarantee. | Up to 100% of receivable less discount. | Discount margin at base + ~100–400 bps; document fees. | Bank guarantee quality, instrument wording, jurisdiction enforceability. |
ECA-Backed Buyer’s Credit | Export credit agency support for capital goods and projects. | Typically 85% of eligible contract value. | Sovereign/buyer risk margin; ECA premium; arrangement 0.5–1.5%. | ECA eligibility, local content, tenors, environmental review. |
PO Finance (select cases) | Short-term funding against firm purchase orders. | 50–80% of cost; tight tenors. | 2–4% per 30 days plus fees; expensive by design. | Strong take-out, reputable buyer, controlled fulfilment. |
Performance Bonds / Guarantees | Bid, advance payment, and performance undertakings. | As per contract obligations. | ~1–3% p.a. of face; cash margin or collateral often required. | Applicant credit, counter-indemnity, contract terms. |
3) What It Really Costs (Budget It Properly)
- Interest / discount margin: expressed as a spread over a base rate or as a discount per tenor.
- Upfront / arrangement fees:~0.5–2.0% of limit or tranche, paid at signing or first draw.
- Utilization / non-use:~0.25–0.75% p.a. on undrawn commitments for some revolvers.
- Collateral control costs: collateral manager, warehousing, inspection, and valuation fees.
- Legal and documentation: borrower’s counsel, lender’s counsel, opinions, security perfection, filings.
- FX and hedging: forward points and spread; do not ignore this if costs or sales are in different currencies.
- Insurance: cargo, stock, and trade credit insurance premiums; trade credit often ~0.3–1.5% of insured turnover.
- Compliance: KYC/AML time and any retrieval or certification costs for documents.
4) Collateral And Control Mechanisms
5) When To Use Which Instrument
Situation | Best-fit tool | Why |
---|---|---|
You have strong buyers and clean invoices | Receivables purchase or ABL | Cheap relative to other options; scales with sales; clear collateral. |
You need to pay suppliers but want terms | Import LC or buyer-led SCF | Transfers risk to bank; discounts at buyer credit; improves payables. |
You export against firm offtake | PXF or confirmed export LC | Cash tied to export proceeds; escrow and assignments control risk. |
You hold inventory with stable value | Warehouse receipt or repo | Monetizes stock under custody; lender can liquidate if needed. |
6) Eligibility Checklist: Pass These Quickly
- Audited or review-level financials and rolling 13-week cash flow.
- Customer concentration under control or well explained.
- Contracts, POs, or LCs that are enforceable and verifiable.
- Title and storage arrangements with inspection rights.
- Insurance certificates, loss-payee endorsements, and claims history.
7) Typical Timelines
Facility | Indicative terms | First draw (post-CPs) | Biggest swing factor |
---|---|---|---|
ABL / Revolver | 2–5 weeks | 6–10 weeks | Field exam, appraisal, legal docs, reporting setup |
Receivables purchase | 1–3 weeks | 2–6 weeks | Debtor onboarding and verification |
Import/Export LC | 1–2 weeks | Shipment-linked | Collateral or margin, confirmation lines, document accuracy |
PXF / Inventory finance | 3–6 weeks | 6–12 weeks | Collateral manager appointment, controls, offtake checks |
8) Non-Bankable Asks To Avoid
These requests do not clear real credit desks. They waste time and damage credibility.
9) How Financely Works These Files
- Map the flow of goods, documents, and cash; design controls lenders accept.
- Build the borrowing base, eligibility criteria, and reporting cadence.
- Run market sounding with banks, non-banks, and funds that finance trade.
- Drive terms to closing with legal workstreams and CP tracking.
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Send your flow diagram, contracts, and last 12 months of shipments. We will respond with a structure, controls, and a pricing range.
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Upload your data room. State limits sought, average tenor, collateral available, and counterparties. We will provide scope, fees, and a path grounded in credit reality.
Contact UsCosts and ranges are indicative and depend on credit quality, jurisdiction, collateral, tenors, and market conditions. Financely provides investment banking advisory on a best-efforts basis. All engagements require KYC/AML, documented materials, and paid milestones. We do not participate in PPP, “bullet trades,” or leased-instrument cash-outs.
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