Specialist equipment for manufacturing, construction and other industries often comes from abroad. The companies that bring specialist equipment into Australia deserve specialist, smart funding of their own.
Australian businesses need the best equipment to ensure they retain high standards of productivity and service. Some of these supplies are only available from overseas; in other cases foreign manufacturers offer cost savings compared to domestic ones. This is why there is a thriving equipment import segment in Australia.
However, there are significant cash flow implications to buying from abroad: typically, a company may have to make an initial downpayment on its order upfront, and then settle the difference either immediately before shipment, or on proof of shipment. When the importing firm re-sells the equipment to a manufacturer, construction or agriculture business, for example, it will likely not get paid until a month or two after issuing the invoice along with the goods.
This is why specialist import finance is so useful – not just to companies making occasional overseas purchases – but to specialist importers too.
Funding Options to Import Equipment
Even the most profitable equipment import businesses will not necessarily be able to find the cash to meet a big order. If it doesn’t have the money in its account, a company ordering equipment from abroad will have to make specific funding arrangements, as it is unlikely to be offered terms by the seller.
Some companies will undoubtedly consider taking out a business loan to cover the purchase of equipment which they know can be profitably sold on. This will likely require some form of security and/or a credit history. It will also mean paying fees and interest for months and even years to come.
In many cases, specialist import finance will be a better option: funding designed specifically to plug the cash flow gap and eliminate the risks and cash flow problems associated with buying from abroad.
Tim’s Import Finance
Smart import finance, provided by a nimble fintech like TIM, can be very cost effective and allows companies to import equipment when needed, without committing to long term financing and the associated costs.
When you need to place an order with one of your foreign suppliers, TIM will pay the upfront costs directly and ensure the order is shipped. You can settle up with us on pre-agreed terms, usually 90 days later. By that time, you will likely have sold the equipment on at a handsome profit – allowing you to pay us back, along with a single, small pre-agreed fee.
Thanks to our easy-to-use fintech platform, importers can simply chose which orders they need us to pay. If you like, we can also take on any currency risks and even deal with the logistics. Our online system is very simple and gives you total control.
Obtain a Quote for Import 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.