- Access Finance
- Case Studies
-
Informing today's market
Financing tomorrow's trade
Soft Commodities Trader
Due to increased sales, a soft commodity trader required a receivables purchase facility for one of their large customers - purchased from Africa and sold to the US.
Metals Trader
Purchasing commodities from Africa, the US, and Europe and selling to Europe, a metals trader required a receivables finance facility for a book of their receivables/customers.
Energy Trading Group
An energy group, selling mainly into Europe, desired a receivables purchase facility to discount names, where they had increased sales and concentration.
Clothing company
Rather than waiting 90 days until payment was made, the company wanted to pay suppliers on the day that the title to goods transferred to them, meaning it could expand its range of suppliers and receive supplier discounts.
Get Trade Finance
Informing Today’s Market, Financing tomorrow’s Trade.
-
- Case Studies
Food Finance (SIC 10)
Access trade, receivables and supply chain finance
We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.
Get startedContent
We understand the intricacies and needs of food finance for both small and large food companies that focus on customers, vendors and suppliers throughout the sector.
Food Finance
Our team has the ability to work across the spectrum in the food industry and are dedicated to structuring a food financing package that is tailored to your individual requirements. We work to provide a number of options depending on the asset, such as finance and operating leases, hire purchase, as well as funding for asset-backed mergers and acquisitions, including relocation and factory refurbishment. Our strength within the industry allows us to assist you to progress with your business.
Please note, we cannot finance perishable food stock.
Types of Food
Key food types include:
Trade Finance Requirements
- Your business is looking for £50k+ trade finance
- You want to import or export stock and have suppliers/ buyers
- Your business is creditworthy
- Your business trades non-perishable food stock
How the transaction works
When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 1-6 months later.
What is the SIC Code for Food Finance?
SIC Code
10
Manufacture of Food Products
Other SIC Codes that could also be used are:
- 10320 Manufacture of fruit and vegetable juice
- 10390 Other processing and preserving of fruit and vegetables
- 10410 Manufacture of oils and fats
- 10420 Manufacture of margarine and similar edible fats
- 10511 Liquid milk and cream production
- 10512 Butter and cheese production
- 10519 Manufacture of other milk products
- 10520 Manufacture of ice cream
- 10612 Manufacture of breakfast cereals and cereals-based food
- 10620 Manufacture of starches and starch products
- 10710 Manufacture of bread; manufacture of fresh pastry goods and cakes
- 10720 Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes
- 10730 Manufacture of macaroni, noodles, couscous and similar farinaceous products
- 10810 Manufacture of sugar
- 10821 Manufacture of cocoa and chocolate confectionery
- 10822 Manufacture of sugar confectionery
Case Study
Food Distribution Company, Manchester
A small company situated in Salford that distributes food to UK retail from US manufacturers was rapidly expanding. The client required a facility to expand their business and go into more retail chains; having confirmed orders that they could not finance. They were assisted with creating an import facility which has grown as the business expands.
Speak to our trade finance team
Latest Insights
Explore our Product Finder