If your business could reduce its costs by importing raw materials, or finished goods direct from the factory rather than purchasing from a local supplier, or if you are currently importing and want cheaper importation costs, then Import Finance is the finance solution for you.
Importing is a great way to reduce your local supply costs, but in order to bring goods into the country it requires upfront cash to be paid to the factory before they release it. However, for many SME’s having this sort of freely available cash doesn’t exist, this is where Import Finance solves the problem.
Import finance will help you to close the funding gap between an order received from an Australian customer and the payment required by your overseas supplier/s.
Using an import finance facility will ease the pressure on cash flow and can take care of all of the complex paperwork and procedures that come with it. TIM’s Import Finance or Accelerator Plus product can fund up to 90% of overseas purchases; freight, duty and GST, all the way through to the point where your customer pays your invoice.
Import Finance is a line of funding provided to your businesses to purchase goods from overseas suppliers. Our solution will not only assist you in ensuring that the best products are sourced for import, but instead of having to pay the factory in full prior to shipment as is the usual protocols, TIM allows you to retain your capital in the business until the goods are delivered to your premises in Australia. TIM will also manage your entire logistics, freight forwarding and forex (all your payments are quoted in AUD), with no need for Letters of Credit and no property security required.
Once established, the line of credit can be drawn, repaid and used repeatedly.
Import Finance provides an end-to-end Import Finance solution including:
- The sourcing of product at the best price at the best quality (to Australian standards);
- Quality control of product in country of origination before leaving the port;
- Complete logistics management, freight forwarding, customs clearance and delivery to an Australian address; and
- Full Forex management (everything is priced in AUD)
All this without the need to allocate working capital for 60-90+ days.
Import Finance can be used by any business that import goods or wants to import goods to sell to other businesses.
Our funding solution is tailored to meet the specific needs of each business and can be structured to provide total funding for periods up to 150 days.
No property guarantees are required as we take security over the product you are importing.
Import Finance is very competitively priced. We partner with the largest logistics provider in Australia to ensure your freight costs are the lowest possible. The total all-in fees vary depending on your business, the type of products, the time to manufacture and specific requirements in order to ensure they are as low as possible.
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Offers A Great Solution To
For small and medium size businesses that need working capital to keep growing
Businesses with annual revenue of at least $1.0 million and who have at least 4 regular paying customers
For businesses that are coming out of a tough trading environment that need cash today to bridge the gap between invoicing customers and getting paid
Seasonal cash flow fluctuations