Trade Finance

Prime Commercial Lending’s trade finance includes lending, factoring, and providing letters of credit to businesses. The most common form of trade finance is letters of credit. A letter of credit is a document provided by the bank to a vendor assuring that the payments from the buyer will be received in full, if not the bank will then cover the payments until the buyer is capable of doing so.

Import/Export Finance is simply put as a form of International Trade Finance. As the same with trade finance, letters of credit are provided to businesses, usually exporters and importers. The bank provides a letter of credit to the exporter assuring that the payment from the importer will be received in full. If the payment is not received in full, the bank will then cover the cost until the importer is capable of doing so.

Read More about Prime’s Purchase Order and Trade Finance Program Highlights.

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