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Export or die

Credit remains elusive for many SME’s intending or wishing to export. So say the BCC in this article here

Too true. Much lending to SMEs is through invoice financing and the rather slow thinking herd like underwriters in this sector, frequently treat overseas debt as if its a cast iron certainty to be written off

Many restrict exports to less than 20% of the ledger and will not touch certain territories, regardless of the strength of the debtor. Yes I have mentioned this before but it is extraordinary that invoicing to BP in Africa will not be funded by nearly all lenders

Fortunately there are exceptions and I have recently managed a significantly arrangement for a agency sending engineers to many blue chip oil companies in a wide range of arenas. In the commercial world any credit manager would not hesitate offering credit to Total Oil and peers. The lenders think differently

They need to wake up or fire the underwriters. Its a short sighted and brainless “tick box” approach

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