At 40Seas, they understand the challenges Small to Medium-sized Enterprises (SMEs) face in global trade. That's why they offer innovative financing solutions designed to simplify your access to working capital. Their digital platform provides flexible payment options for importers and exporters, streamlining B2B payments and helping you manage your invoice-to-cash workflow efficiently.
How 40Seas Financing Can Help Your Business
Their trade financing is tailored to support your global commerce activities, making it easier to manage your finances and seize growth opportunities.
What kind of financing does 40seas offer? 40Seas provides flexible credit lines linked to net terms agreements (e.g., Net 30, Net 60, Net 90 days).
- Revolving Credit Line: This isn't a one-time loan. You can draw funds as needed for your shipments, repay them, and then draw again. This provides ongoing flexibility to manage your cash flow.
- Net Terms: You get extended payment terms on your invoices. For example, with Net 60 terms, you have 60 days to pay after confirming the invoice through the 40Seas platform.
- Easy Application: Credit is applied to your invoice once you confirm it via our user-friendly system.
What can you use the credit line for? Their financing is primarily designed to help you:
- Finance Goods: Cover the cost of the products you are importing or exporting.
- Cover Shipping Costs: Funds can also be used for shipping costs, provided this is a pre-agreed amount and included on the invoice with your products.
What will your credit line limit be? Your specific credit line limit will be determined through 40seas straightforward Know Your Business (KYB) assessment. This process considers your business profile and trading history to establish a limit tailored to your needs and is often aligned with available trade credit insurance.
Is collateral required? 40seas streamlined financing solutions are designed to be accessible. While specific requirements are determined during the application process, 40seas goal is to provide financing that often does not require traditional, cumbersome collateral, focusing instead on the strength of your business and trade transactions.
Getting Started with 40Seas
They’ve made their credit application process simple and efficient.
How do I apply?
- During Invoice Payment: When you're ready to pay an invoice on the 40Seas platform, you'll see an option to pay using net terms (e.g., Net 30, Net 45, Net 60).
- Start Application: Selecting your preferred net terms option will seamlessly guide you into our credit application process.
- Secure Document Upload: If any additional information is needed by our underwriting team, you can securely upload necessary documents through the 40Seas portal.
- Fast Approval: We aim for a quick turnaround, with credit approvals typically granted within 1-2 business days.
Transparent Fees
We believe in clear and straightforward pricing. Their fees are competitive and based on the net terms you select.
Current standard rates for financed invoices are:
- Net 30 Terms: 1.8% of the invoice value
- Net 45 Terms: 2.7% of the invoice value
- Net 60 Terms: 3.6% of the invoice value
These fees are applied to the financed invoice amount, giving you clarity on the cost of financing.
Key Benefits of Choosing 40Seas
- Enhanced Cash Flow: Manage your working capital more effectively by deferring payments with our net terms options.
- Flexible Funding: Our revolving credit line allows you to draw, repay, and redraw funds as your shipping needs evolve.
- Simple & Fast: Enjoy a streamlined online application process with quick approval times.
- Seamless Integration: Financing is applied directly to your invoices once confirmed on the 40Seas platform.
- Fuel Your Growth: Access the working capital you need to finance more shipments, take on larger orders, and expand your business.
Questions or Ready to Get Started?
We're here to help you navigate your trade financing needs.
- For general inquiries about their financing solutions or the application process, please email 40seas at support@40seas.com.
- If you are working with a Portless Account Manager, they can also assist you.
Let 40Seas empower your business with the financial flexibility it deserves!