Structured Trade And Export Finance
We are committed to ensuring our experienced, greenhorn and prospective exporters realize their corporate objectives as well as their financing needs. This we achieve by deploying our corporate resources in highly professional manner to guarantee superior and sustainable returns to our customers, whilst complying with regulatory requirements.
We are committed to undertake assignments and business transactions for our customers to optimize value and productivity.
With products designed for your present and future needs, our experienced staff deliver specialized services to your trade enterprise that enables optimized productivity, output and value for continued growth and success.
Our Export Finance Offerings
Non-Oil Export Finance Facility Product Guide
Sterling Bank provides pre-shipment and post-shipment finance for exporters of approved hard and soft commodities, raw materials; manufactured, semi-manufactured and finished products across all sectors to meet important export obligations.
Pre Shipment Finance
This is a finance product that avails working-capital to an exporter against a confirmed export order of non-prohibited items from a buyer backed by a Letter of Credit, Bills for Collection or Guarantee. This facility is availed prior to shipment in local currency (Naira) to enable exporter purchase/ aggregate goods, raw materials for manufacturing, warehousing and/ or other logistics arrangements.
- Procure raw materials
- Carry out manufacturing process.
- Provide a secure warehouse for goods and raw materials.
- Process and pack the goods.
- Ship the goods to the buyers.
- Meet other financial cost of the business.
- The lower cost of financing will enable the exporter negotiate better contract terms with the buyers, increase protfolio and profit.
Post Shipment Finance
This finance is offered by Sterling Bank to an exporter or seller against a shipment that has already been made. This type of export finance is granted from the date of extending the credit after shipment of the goods to the realization date of the exporter proceeds.
- Exporters need not wait for buyer to deposit the funds.
- Takes care of cash or liquidity requirements of export business.
- Discount of up to 80% available.
- Avails exporter the liquidity to plough back and execute more contracts.
Rediscounting and Refinancing Facility (RRF)
Pre-Shipment Rediscounting Facility:
Sterling Bank offers Rediscounting and Refinancing Facility on behalf of NEXIM (Nigeria Export-Import Bank) at single digit interest rate to encourage exporters undertake and perform export contracts as well as procurement of inputs / exportable goods, e.g. raw materials / commodities, semi-processed and finished goods for either processing and/or direct exports.
Post-Shipment Rediscounting Facility
This is a short-term finance provided while awaiting receipts of export proceeds from shipments and/or encourage the provision of deferred payment arrangements by exporters to their counter-parties to enhance competitiveness.
Refinancing Facility
Sterling Bank offers longer-term export credit in support of export activities. This finance provides a mechanism that relieves export financing banks and export credit guarantors on their longer than expected export lending commitments in the event of commercial lending difficulties.
Non – Oil Export Stimulation Facility (NESF)
We also support your business with:
- An automated solution for end-to-end NXP form processing.
- Liaising with approved inspection agencies in export matters.
- Rewriting LC/ amending LC, adding confirmation to inward LCs
- Certification of export proceeds to the Central Bank of Nigeria.
- Utilization of import/export proceeds and FX sales using the I&E window in line with regulatory requirements.
- Remittances under bills of collections.
- To help redress the declining export financing and reposition the sector to increase its contribution to economic development.
- To improve export financing, increase access of exporters to low interest credit and offer additional opportunities for them to upscale and expand their businesses in addition to improving their competitiveness.
Other Trade Offerings
This is a short-term finance provided while awaiting receipts of export proceeds from shipments and/or encourage the provision of deferred payment arrangements by exporters to their counter-parties to enhance competitiveness.
These products and services provides your business with:
- Opportunities to leverage on our relationships with export credit agencies and correspondent bank.
- Access to globally offered trade schemes and insurance instruments.
- Access to our global network of partners, providing your business support across all regions.
- Nuanced local, regional and global knowledge in the key import/export markets of the world.
- Specialized advice to manage emerging market risks in key import/export regions.
- Finance solutions and advisory services to hedge commodity price risk of selected commodities in key markets.
- Liquidity management solutions to optimize your business’ balance sheet and transfer your risk.
- Customized end-to-end medium-to-long term financing solutions, framework agreements tailor-made for your enterprise
