Importing and exporting are two complicated words that make most businesses in Hong Kong thrive. Without these two, the economy will be bag down. That’s why import financing is essential, especially for small and medium-sized businesses. Due to all the logistics involved with importing, there are understandable delays. However, SMEs can experience a considerable cash flow problem while covering their expenses and waiting for the products to arrive. So trade financing is one of the best solutions, where importers can borrow money while they wait for the products they ordered to arrive. Thankfully, DBS offers this to all businesses who have an account with them.
Wide Range of Import Financing Services to Choose From
If you’re thinking about applying for an import financing solution, then you must get yourself familiarized with the different options available. For instance, DBS Banking has import documentary credit (DC), documentary collections, and shipping guarantee. Furthermore, you can customize these according to your needs. Also, it allows you to manage your trade transactions more effectively. Thus, allowing you to free up your cash flow so you can focus on growing your business without having to worry about the expenses that come with it while you wait for your products to arrive.
Funding the Purchase of Your Goods
Another thing that you should remember about import financing is that it’s very rewarding. While dealing with all the delays of the products can be pretty daunting for your business, you won’t have to worry about how you’re going to keep funding and covering the expenses with the customizable solutions that DBS Banking offers. Of course, you can choose depending on your trading cycle. After that, you can use this money to fund the purchase of your goods or to maintain your cash flow. As a result, you can keep on doing business without a problem.
Save Money & Reduce Your Wait Time
DBS SME Banking ensures that all of its clients can save money with their incredibly competitive financing rates. Therefore, you can get that financing without worrying about how you can pay for it. You can simply submit your application for import financing services or provide settlement instructions through DBS IDEAL online banking platform. After that, you can check when your loan is disbursed through the same platform. But of course, you need to make sure that you can repay the money you’ve borrowed. Remember that DBS won’t remind you when your loan is due. They will automatically debit it from your account, so it must have sufficient amounts.
