Simple Export Finance for SMEs

An existing funding provider has just introduced a new service to help small companies enter the export marketplace with a minimum amount of paperwork or risk.

This new ‘Export Overdraft’ is not only available to established companies but also to start-ups and recovery situations. The fees are simple with an arrangement fee, normally below £500 and a single interest fee depending on the risk and the length of the loan. This is not suitable for long term debt but for loans from a couple of weeks to up to 60 days. Longer loans of up to 90 days are available but then the charges may make it too expensive.

It works in the same way as single/ selective invoice discounting.

The exporter tells the finance house who they are exporting to, they then arrange a credit limit with a corresponding finance house in the destination country concerned. They at present have arrangements with 65 corresponding finance houses in mainly the EU and the OECD countries.

Once credit approval has been obtained, the goods can be shipped and invoiced. Letters of credit and bills of lading are not required. As part of the service the local finance house can arrange documentation in the customers own language. Once proof of delivery has been obtained then the funds can be drawn down.

For further details please contact:
Peter Kelly: 07778 670 236
peter.kelly@pegasusfunding.co.uk. London, South East, & East Mids.

Richard Olsen: 07976 642432
Richard.olsen@pegasusfunding.co.uk Cambridge, East Anglia, East Midlands.

HCBA and Surrey Chamber of Commerce Event

BeXeXTM is an event format and methodology that enables peer to peer sharing of valuable information between business leaders and helps them solve their challenges.
Looking for fresh ideas to boost your business?
Got a business problem that needs a new perspective?
Want to share and gain experience with fellow business owners?
Then why not join us in Woking at 5.30pm – 7.30pm on Tuesday 3rd May for our Business Experience Exchange event where we will be providing business owners and directors the opportunity to exchange ideas and discuss issues as a group.

HCBA are running the event in partnership with the Surrey Chambers of Commerce.


There is no agenda except the one you help create. There will be other business experts on hand to discuss any business issue you want to raise, however the experts aren’t the only ones who know a thing or two about running a company. Some of the best ideas come from those that manage their own business, who not only have been there but are there and doing it, business people like you!
Benefits of Attending
 Gain valuable business insights
 Get to know your business peers
 Find solutions to local business issues
 Improve your motivation and confidence levels

This event will also include a short presentation by social media marketing expert Susanne Currid on maximising the impact of your social media communications. Her presentation will include case studies from local Surrey companies and will offer advice on using social media to help improve your business search engine results on Google.

Book a place now at Surrey Chambers of Commerce Events. Go to: http://hcba.co.uk/bexex/

Event Date: Tue 3rd June 2014
Time: 17:30 – 19:30
Location: GU21 6QX
Venue: Arcom IT Headquarters, Export House, Cawsey Way, Woking

New type of short term borrowing now available

Since the start of this year a new type of funder has appeared. They specialise in lending sums up to £100K for short periods of time. One I am dealing with at the moment will lend for as short a time as a few days, a few weeks or a few months, up to a maximum of 12 months.

This type of funding is not cheap but very useful if you need extra funds for just a month or two. One client needs to buy additional fast moving stock that has a good profit margin, he cannot get funding from his Bank so this type of short term funding is ideal.

Some of these funders want Personal Guarantees but others don’t. Typical charges, depending on risk are from 0.1% to 0.3% per day plus arrangement fees.

One funder has a useful revolving facility where a maximum level of funding is agreed and you can take money out and put money back in as the need arises and you are only paying interest on the money used at any one time.

The main criteria for these loans seem to be at least one set of filed accounts, followed by a sales forecast that shows that you can afford the repayments.

This is not cheap money but for short term borrowing it can be useful.

South East Business Boardroom

We are pleased to announce the speakers and agenda for the next South East Business Boardroom meeting at the Five Bells in Chelsfield BR6 7RE.

We meet in the bar at 1:30 p.m. for networking. Free sandwiches at 1:45 p.m. and the meeting will start promptly at 2:00 p.m.

There will be a break for coffee and teas at 3:00 p.m.

Agenda

Individual introductions and an informative introduction to the group by the Chairman.

All attendees will have a one minute opportunity to introduce their business.

The main speaker Paul Duckworth will present Creative Heads Ltd. a creative design agency. Based in Canterbury, they help to grow businesses by enhancing their brand image and marketing them effectively across all communications channels.

The second speaker David Gillespie will then present Group Trader, a buying and trading self help group based in Essex but trading throughout the South East.

Business to Business. A time for all attendees to share business opportunities, and to look for advice and guidance with challenging cases or situations.

Discussion on speakers for the next meeting.

Any other business.

Date of next meeting.

Close of meeting 4:30 p.m.

Networking in the bar afterwards.

Places are limited to 20 attendees only. Please RSVP a.s.a.p. to avoid disappointment. Go to:http://www.meetup.com/South-East-Business-Boardroom/events/179196652/