A : → Banks and financial institutions usually require collateral when making a financial commitment to their clients. Cash or real estate collateral is typically necessary for small businesses. Another alternative would be assets based financing. Companies can pledge, or factor accounts receivable to banks and finance companies in exchange for cash advances amounting between 50% and 80% of their total accounts receivable.The more effective financing is the trade supplier financing. However it depends heavily on your relationship with your trade suppliers and their willingness to extend credit terms to you. Please refer to more information available in TDC SME Finance.
Q : → We just opened an office in HK. Do you know of any bank or financial institution that specializes in dealing with trading firms or banks that are easy to deal with, in terms of providing credit or funds through the use of Letters of Credit ?
A : → I think HSBC is okay!
