Trade Finance

Funder was approached to assist a start-up business in importing and distributing 19” Flat Panel LCD TVs to a major UK retailer. The China based supplier required payment via a Letter of Credit (“LC”) with the order prior to production. Davenham raised the LC to cover 100% of the cost of the goods value. The Funder also agreed to cover all freight, duty and VAT costs in order to import the goods into the UK.

The Funder's assistance enabled the directors to facilitate the order, with mainstream funding, on a tight timescale, and with no loss of equity to the business