Ebury: Trade finance and FX for your next container load of product
Ebury only launched their Trade Finance product in May, but have already crossed the £2 million transaction milestone with the number of active clients is currently growing at more than 100% month on month.
Ebury offers two main services, Trade Finance designed to make funds available to small and medium sized business when purchasing and Currency Exchange services to take the guess work out of how much it’ll cost you.
Typically a retailer would be interested in Ebury when buying a container load of stock from the Far East. You may have to front a deposit of around 30% when placing your order, but the rest will be due on shipment. Shipment means that, for at least the next month, your money is tied up as your container bounces across the world on a ship and that’s where Ebury step in.
When your goods are shipped Ebury can finance the purchase, even refunding your deposit if you wish, freeing up your capital. You can also book an exchange rate in advance so that you’ll know exactly how much it’s going to cost you in Sterling, taking away the vagueries of currency fluctuation.
If you’re interested in a revolving line of credit of up to £1m on 120 day terms then Ebury can assist. They’ll pay your suppliers direct and as a cash buyer you may even be able to negotiate better terms. Plus your suppliers can be paid in the currency of their choice, but you also have the flexibility to repay the loan in the currency that works best for you.
To access Trade Finance with Ebury, you’re likely to be a UK business with £1m-£150m in annual revenue. As a general guideline they look for a minimum two years’ healthy trading record, and up-to-date statutory and management accounts. If that’s you and you’d like to finance your next container load of product, you can contact Ebury on 0203 627 6010 or through their website.