What is Raw Materials Finance?
Raw Materials Finance
We aim to assist in structuring tailored raw materials finance packages that will the facilitate the release of working capital quickly. The aim is to create a solution that suits the specifics of your business.
When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 30-180 days later.
What is the SIC Code for Raw Materials?
The SIC Code is 19 (Manufacture of coke and refined petroleum products)
Other SIC Codes that could also be used are:
- 19201 Mineral oil refining
- 19209 Other treatment of petroleum products (excluding petrochemicals manufacture)
- 20110 Manufacture of industrial gases
- 24450 Other non-ferrous metal production
- 35210Manufacture of gas
Raw Materials Case Study
Due to the market and hardship that faced the sector it was difficult to buy product when large orders came in with quick turn around times attached. Using the trade finance facility offered, the business was able to grow and look to new markets in which to expand.
[wooslider slide_page=”fuels” slider_type=”slides” limit=”1″]
- No security or personal guarantee required
- Non-pharmaceutical chemicals finance available even if the banks refuse finance
- Our partners get you the best rates on the market
- Fast turnaround – get raw materials finance in 24 hours
Download our Trade and Invoice Finance Guides: