Strategy That’s Right On The Money
With the current economy and credit crisis, you may find your company in a cash crunch. Fortunately, there are a few strategies you can take to help loosen the purse strings:
• Free up your capital – insure your receivables:
Insuring your receivables means you’ll get paid. But having insurance also means that lending against your receivables is less risky for your bank, and that can convince them to provide the working capital you need to fund pre-shipment costs. EDC’s insurance solutions can cover up to 90% of losses, and are available for either your whole book of foreign receivables or for just a single buyer.
• Lessen your need for collateral – bonding solutions:
If you’re required to post a bond or security for a foreign contract, it can leave you with less working capital for operating costs. Insuring or guaranteeing the bond through EDC can lessen your need to tie up collateral and help make your financial institution more confident about extending credit.
• Increase lines of credit, and boost cash-flow – financing solutions:
EDC has a number of financing solutions, whether you need to fund pre-shipment costs, finance the acquisition or expansion of facilities abroad, or provide competitive financing to your foreign customers. And an unsecured working capital loan program, created with smaller businesses in mind, can provide you the financial flexibility to include covering the costs of attending foreign trade shows.
Collaboration For Success
EDC delivers value in many ways and wants to continue building a close relationship with PAC members. In September, EDC was a sponsor at PAC’s National Conference and Yolanda Banks, their senior corporate social responsibility advisor, shared EDC experiences in implementing a practical corporate responsibility program.
Don’t miss the PAC November 25, 2008 Toronto seminar featuring Lewis Megaw, EDC’s vice-president responsible for the packaging sector.
“At Peel Plastics, exports account for 90% of sales. Our success has been due to an unparallelled commitment to innovation, consistent re-investment in the newest technologies, a keen pulse on the global market, and a committed team that continually drives hard to deliver value to our customers and consumers. These pillars have made Peel Plastics Products Limited a first-in-class solutions provider to the global packaging marketplace.”
Mark Liberman
Sales Manager, Peel Plastic Products Ltd
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