The ability to obtain competitive financing can mean the difference between gaining and losing a new business opportunity. From working capital requirements to inventory needs, Comerica can structure the tailored solutions your organization needs at competitive rates, allowing you to obtain funding advances for your importing and exporting needs.
Financing solutions for importers
A Bankers’ Acceptance is an attractive option when, as an importer, you may not be able to obtain the required financing from your exporter, requiring you to request acceptance financing from your bank. Comerica can structure Bankers’ Acceptances at competitive rates. Once the bank agrees to accept drafts for you, you can draw time drafts on the bank to obtain funding advances when you need them.
Financing solutions for exporters
Working capital loans
For your pre-export financing needs, Comerica can facilitate an Export-Import Bank of the United States (Ex-Im Bank) guaranteed working capital loan. As one of the lenders for the Export-Import Bank Working Capital Guarantee program, Comerica holds the highest-level Export-Import Bank Bank Delegated Authority lender designation, allowing us to approve loans up to $10 million independently. We are also one of only eight financial institutions nationwide to hold the Export-Import Bank Fast Track lender designation, allowing us to approve loans up to $25 million in coordination with Export-Import Bank.
You may use the guaranteed working capital loan to
- Purchase finished products for export
- Pay for raw materials, equipment, supplies, labor and overhead to produce goods and/or provide services for export
- Cover standby letters of credit serving as bid bonds, performance bonds or payment guarantees
- Finance foreign receivables
Foreign receivable financing
To increase your cash flow, Comerica can facilitate foreign receivable financing for up to 360 days. This enables you to extend competitive credit terms to your buyers and allows you to borrow against foreign receivables. Various insurance options are available through Export-Import Bank and private insurers.
Foreign receivable discounting
To meet your short-term financing needs and increase your cash flow, Comerica can facilitate for the discounting of your foreign receivables.
Foreign buyer financing
To meet your buyers’ needs for financing to pay for their purchases from you, Comerica can facilitate foreign buyer financing supported by Export-Import Bank, providing you with the required cash flow and allowing you to extend the financing required by your buyers.