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MEDIA
RELEASE Australia’s most innovative debtor financing specialist has become the new force in the country’s export trading with the release of its new product that is set to create new standards in this vital sector of the economy. Oxford Funding says the new product called Export Debtor Finance is mainly targeted at Australian-based businesses with an annual export turnover of above $250,000. Export Debtor Finance provides a flexible line of credit linked to the level of overseas accounts receivable, as well as enabling a business to outsource its overseas receivables administration. The funding line buys an exporter's present and future debts and pays 80 percent of that export debtors ledger within 24 hours. It provides improved cash flow to enable an exporter to better run the business and obtain better credit control. As a member of Factors Chain International, Oxford has access to a network of over 90 financial institutions in over 40 countries. In addition to instant cash flow, these correspondents provide the following additional features:
"The release is in response to many calls we’ve had from a range of businesses.’ says Oxford Funding’s Rob Lamers. ‘In particular wine producers who are now exporting to meet the summer season in Europe. "It’s a case of not waiting for goods to travel six weeks on a boat and then another 30 days to get paid. 24 hours after the goods are on the ship, there is access to the funds. "This is a perfect move for us as we're already very active among importers and to offer this new facility will be well received. "Among the many points of advantage that Export Debtor Finance has is a 100 percent credit guarantee insurance cover which is unique in this industry. "It is a well timed strategic expansion for us as export factoring is a perfect fit within Bendigo Bank's range of trade finance products.’ Lamers said. Part of the new business move is Oxford Funding becoming a member of Factors Chain International. This 40 year old organisation is based in Amsterdam and is active in over 40 countries. It is the world’s largest body of global factoring & discounting institutions which has built the world¹s largest network of factoring companies and is the acknowledged global authority on export factoring and the role it plays in international trade. Oxford Funding is only the second business in Australia to become a member. ENDS Contact Oxford
Funding on 1800 850 509 or www.oxfordfunding.com.au |
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