Neeta decided to set up a paper export business after finishing her MBA course. Coming from a family with well-established business credentials, she had forged strong relationships in the paper industry and had good connections in India – her family’s home before settling in the UK.
With sound experience of business and good knowledge of the international market, she was able to agree an export contract with a major paper user in India with the product sourced in Canada via a UK intermediary.
The problem was that, as a new start business, Neeta was not able to attract credit terms from the supplier who needed payment when the goods were dispatched from the Canadian factory.
WCP obtained credit insurance on the Indian buyer and arranged a local verification and collection service. We then paid the Canadian supplier for the goods which were shipped directly to the port in India.
The Indian customer agreed that they would pay 60 days from the date the goods landed; so the trade finance was converted to invoice finance at that point, with WCP’s local partner making sure that payment was made in full and on time.
Neeta was able to complete a transaction which would otherwise have involved considerable risk and required significant amounts of working capital. And of course, without the worry of financing, she was immediately able to start work on opening up other export lines to India and countries in the Middle East.
All the staff are very helpful and expert in their subject. It gives an extra advantage to your business.”