Can
the exporter get financial assistance?
BANK NEGARA offers Export Credit Refinancing Facilities
for both direct and indirect exporters (domestic
suppliers of inputs to final exporters). The actual
financing for exporters is operated by Export -
Import Bank (EXIM BANK). Therefore, the exporter
should apply for finance to a commercial bank designated
by Exim Bank. Two types of schemes are available,
namely, pre-shipment facility and post shipment
facility.
What is Pre-shipment
Financing?
As soon as the exporter receives an export order,
he starts producing goods for export or lay in
stock and if he needs working capital to do this,
he can apply for finance from a commercial bank
with preferential interest by presenting the export
order. The commercial bank will in turn obtain
refinancing for the corresponding amount from
BANK NEGARA with a better rate than that of the
lending rate to the exporter.
The maximum financing period for the exporter
is four months and 80 percent of the export order
value can be financed. While there is no limit
imposed on the amount of finance, a minimum value
of RM2,000 is required.
What is Post-shipment
Financing?
For post shipment Export Credit Refinancing, the
exporter can get finance after making shipping
arrangements and receiving the bill of lading
from the shipping company. Necessary documents
include the bill of lading together with the invoice
and customs export declaration form. The maximum
period of financing is six months with an eligible
amount of 100 percent of the invoice value. The
minimum financing amount is RM2,000. The maximum
limit for a post shipment loan is set at RM50
million per exporter.
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