What is Tradeline?
Tradeline is an alternative to traditional trade finance. It is essentially a line of credit that can be used to pay suppliers, providing clients with time to take possession of goods and turn them into cash before having to pay for the stock. Facilities can be drawn, repaid and used repeatedly.
What type of goods can Tradeline be used for?
Tradeline can be used for both raw materials and finished goods. In fact, so long as the goods are legal, Tradeline can be used for almost any type of goods.
Can Tradeline be used for both imports and goods acquired domestically?
Yes. Whilst Tradeline is used regularly to pay overseas suppliers it can also be used to assist with the payment of local suppliers.
How do my suppliers get paid?
A range of supplier payment options are available. On most occasions suppliers are paid via telegraphic transfer however Letters of Credit are available. Alternatively, we can pay via bank documentary collection.
Is Tradeline available in other currencies?
Yes. Tradeline is available in USD, AUD, GBP and NZD. If a supplier needs to be paid in another currency, such as EUR, we can accommodate this request.
What credit limit is available for a Tradeline facility?
Credit Limits are available from USD $5,000 to $2,000,000. Larger requests can also be considered.
How long does it take to put in place a Tradeline facility?
Facilities are typically approved within 5 business days.
What security is required?
Tradeline does not require security such as a mortgage or a charge over your company. Usually director's guarantees are required.
Will this impact my existing bank facilities?
No. We do not require charges or releases from your bank so there is no impact at all on your bank facilities.
What percentage of the value of goods will Tradeline make available?
Up to 90% of the purchase price.
When does Tradeline have to be repaid?
The maximum term is 90 days from shipping date or invoice date (for domestic suppliers).
If you'd like to know more, contact your nearest Tradeline branch.
Does Scottish Pacific Tradeline offer any other forms of finance?
Scottish Pacific Tradeline are part of the Scottish Pacific Group which offer a wide range of business funding solutions ranging from debtor finance, cash flow finance, business lines of credit, bad debt protection, asset finance and invoice discounting. Please ask and a Tradeline representative can put you in contact with a representative who can help tailor a complete business funding solution to suit your business.