Stanbic Introduces Two New Trade Finance Products

Mrs. Desma Elvis-Ncaagae

Mrs. Desma Elvis-Ncaagae

Stanbic Bank Botswana has enhanced efforts to boost the Business Banking offering, with two new Trade Finance products for business clients. The bank has introduced Invoice Discounting and Purchase Order Financing, that are targeting largely businesses involved in the supply of products and services.

Recent months have seen Stanbic Bank increase its momentum in working to offer an enhanced banking experience, with more convenient banking products and services.

Said Desma Elvis-Ncaagae at Stanbic Bank Botswana, “As a bank, we constantly strive to innovate in an ever evolving business climate, and the trade finance area presented a clear need. The challenges faced by entrepreneurs are in bridging the gap between supplying products and receiving payments from the debtors, and the introduction of these new payment platforms works to counter that.”

Invoice Discounting and Purchase Order Finance  are working capital solutions where one borrows money from the Bank against future payments due to specific invoices. It is designed to unlock liquidity tied in one’s business’ accounts receivables.

Both payment platforms involve providing finance to Stanbic Bank existing and new customers who supply products and services to their target customers.  Benefits of these products include, but are not limited to: The facility will help to increase your business’ cash flow, No tangible security required, Excellent customer service at all times through our dedicated relationship managers, and Streamlined credit approval process and quick turnaround time.

“Stanbic Bank strives to unlock economic potential for every entrepreneur despite their inability to provide tangible cover as this has been a challenge in most small to medium businesses. We are here to play a financial and advisory role in growing businesses.”

 

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