Sterling fashion £350k trade finance deal for importer
Sterling Trade Finance Ltd successfully completed a £350k trade finance transaction with a fashion importer selling goods to boutiques and independent retailers in Ireland and the UK. Sterling provided purchase order finance to buy goods from suppliers in China, Greece and Turkey. The facility is also used to fund VAT, duty and freight costs once the goods arrive at the UK port. The client then makes the repayment from the availability provided by their separate invoice discounting provider. Sterling has developed a flexible set of documentation which bridges the separate facilities offered by the trade finance provider and factoring/invoice discounting company. This allows them to provide trade finance to clients where their invoice finance provider agrees to repay Sterling from the availability of the client’s sales invoices.