Import Invoice Finance (IIF) is financing to the importer/buyer. Normally, the exporter sends the invoices directly to the importer who requests for financing to the bank by submitting the trade documents (including the invoices) to the bank.

Features

• Letters of Credit.
• Bill for Collection.
• Advance Payment.

• Better cash flow.
• The customer will enjoy cheaper financing compared to an overdraft facility.
• As a buyer the customer can reimburse the supplier on a sight basis and should be in a better bargaining Position.
• Provides greater flexibility and liquidity by bridging the gap between payment for imported goods and receipt of funds through subsequent sales.
• Allows you to make timely payments to your suppliers.
• Enhances your business reputation with potential to negotiate more favorable payment terms.
• Can be used to extend your credit period beyond the terms given by your supplier under Documentary Credits and Documentary Collections.
• Available through local funding (Naira) and offshore funding (foreign currency).
• Available for importation of goods.

Buyers & sellers