How International Trade Finance Companies Helped Businesses to Bounce Back after COVID-19?
COVID-19 has harmed the entire global trade market, especially SMEs. The effects of COVID-19 had made it tough for SMEs to secure a credit line or bank support; to restore their business. Those days were really a dark period for SMEs. Now, as per the recent study by UNCTAD’s Update; world trade recovery from the COVID crisis hits a record high of 10% increase year-over-year; also, 7% increase in the first quarter. The main thing which helps the global trade to bounce back to normal is – International Trade Finance Companies & their Bank Instruments such as – Letter of Credit, SBLC & BG MT760.
When the COVID-19 recession hits, SMEs faced a huge loss; compared to larger companies. And this is because of the lack of cash flow in their business. Due to their limited access to import finances & other banking support; they have not been able to cope with COVID-19 lockdowns. And once the COVID crisis started to settle down; they started looking for options to kick start their business. Since banks were not ready to lend their support to SME traders; they turned towards Trade Finance Providers.
Who Are Trade Finance Providers & What They Do?
There are different types of Trade Finance Providers and it can be – Banks & Non-Bank Lenders. Because of the limited access to trade finances for SMEs; traders look for other alternate options like private lenders. These types of private lenders do not take deposits or tangible collateral. Instead, they use their own bank facilities to issue the required bank instrument on your behalf. Hereby, we are proud to introduce ourselves as an International Trade Finance Provider in Dubai.
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By having a strong connection with world-rated banks; we are always ready to support traders with their business needs. We understand the crisis faced by traders. That’s why we used to extend our own credit lines on behalf of buyers; also, we will provide the best solution by providing Trade Finances for SMEs.
How to Get Help from International Trade Finance Providers?
Getting help from Trade Finance Providers like us is simple & easy compared with banks. Our process is simple in such a way that you can apply for a Bank Instrument in just 5 steps. Moreover, there is no need to wait for a long time to get your request approved; i.e. you will get the request approved & a FREE Quote within 24hrs. Since we are experts in this field; we will structure your business in a professional way; also, will help you to get the Bank Instrument issued within 48hrs.
By providing Financial Instruments for traders in such a simple & unique way; Bronze Wing Trading, the International Trade Finance Companies in Dubai have helped more SMEs to bounce back from the effects of COVID-19.
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COVID-19 pandemic has affected both local and global trade dealings. Even, the world trade bounced back to normal in the year 2021, the SMEs still face financial hurdles to do their imports & exports. This is mainly due to the lack of cash funds or lack of access to Trade Finance Instruments. Are you in […]