Australia’s excellent reputation as a source of food produce means our grocery and beverage manufacturing sector has excellent export prospects: TIM’s specialist finance makes it possible for everyone to export.
Australia’s food and grocery manufacturing sector is in a great position to increase its overseas sales, as Asian markets develop a taste for our high-quality products. But in a highly diverse industry, suitable funding and support is essential to allow companies to break the export barrier without straining their finances.
China recently overtook the USA for the first time as Australia’s top export market for food, beverage and grocery products. Industries as diverse as meat processing and wine production have led the way into Asian markets and, with domestic sales stagnant, exporting is perhaps the best route to growth for many food manufacturers.
One thing is certain: the world market is many times bigger than the domestic one. Exports are rightly regarded as an important milestone for any company, and a passport to higher sales and profits. On the flip side, exporting inevitably presents logistical, cash flow and risk issues.
Enabling Food Manufacturers to Export
In order to ensure that individual food and grocery manufacturers can access the opportunities on offer in foreign markets, TIM offers a specialist export funding product that not only makes sure the business has the money to fulfil an export order, but also helps to de-risk the process and helps with logistics.
In particular, manufacturers trading overseas face a larger cash flow gap because the order takes longer to fulfil and ship, at which point they can issue an invoice and wait for international payment. What’s more, there are additional shipping costs and bureaucracy to consider, and the extra risk of working with far-away buyers outside of your familiar jurisdiction and culture.
Export finance tackles all these issues, offering you up-front payment on international purchase orders received, for a fixed fee that is settled along with the main sum when the client pays. At the same time, and unlike other forms of business funding you could use to fulfil an export order, a fintech finance company like TIM can de-risk the currency transactions and even arrange your shipping logistics for you as part of the deal.
Put simply, we remove the barriers and make it possible for you to export without money or logistics worries.
How Export Finance Works
Once you have opened an account with TIM and your buyers have been approved, you simply use our online system to get international purchase orders cashed as soon as you need the money. Because the export finance is based on each individual purchase order, you always get enough money to cover your costs, but aren’t committed to borrowing more than you need, for years at a time.
Our export funding will usually fit the timescale between receipt of the order and final payment, so that your customer effectively pays us back for you. A small pre-agreed fee is taken by TIM at this stage. If required, TIM will also manage your entire logistics, freight forwarding and forex, with no property security required.
TIM’s export finance doesn’t require a credit record, you just need to have proven overseas orders with good clients. And you aren’t committed to a long term facility – simply present any orders you want for up-front payment by TIM
Obtain a Quote for Export Finance Today
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TIM Finance offers several different funding solutions (Services), one or more of which has a no-fee, no interest and no long lock in contract period, called the Fully Flexible funding option. Conditions, fees and charges apply to some of the Services provided, which may change or we may introduce new ones in the future. Full details for all funding options (Services) including any fees and charges which may apply, is available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider it’s appropriateness to these factors before acting on it. Read the funding agreements provided, for your selected product/service, including all the Terms and Conditions contained in agreements provided, before proceeding. *T&Cs: Minimum 12 month invoice funding contract with TIM Finance. Direct clients only, offer doesn’t apply to broker introduced clients. All standard credit terms and conditions apply including credit assessment. Not applicable to existing clients.