Trade Finance Forum › Forums › Trade Finance › Basics › I’m looking for ways to get the best possible deals on trade finance, but I’m not sure where to start. What are some key things that businesses should look out for when negotiating with lenders and other finance providers, and how can I ensure that I’m getting a fair deal?
- This topic has 3 replies, 4 voices, and was last updated 7 months, 3 weeks ago by jamesdavid123.
-
AuthorPosts
-
May 8, 2023 at 4:39 am #2317Yash ChopraParticipant
I’m looking for ways to get the best possible deals on trade finance, but I’m not sure where to start. What are some key things that businesses should look out for when negotiating with lenders and other finance providers, and how can I ensure that I’m getting a fair deal?
May 10, 2023 at 4:52 am #2318Raabiya IssacParticipantNegotiating business financing is essential for securing favorable rates and better terms. Eligible businesses can negotiate terms with lenders when applying for trade finance. There are a number of terms that can be negotiated, including:
Non-interest costs
Fees
Fixed charges
Interest ratesIf you are prepared and understand the structure of fees and charges, you will be in a better position to negotiate terms that are in your favor. Small business owners can approach lenders to lower interest rates or develop payment plans.
Here are some tips for negotiating terms with lenders:
Do your research. Before you start negotiating, make sure you understand the market and the terms typically offered.
Be prepared to walk away. If you are not happy with the terms offered, be prepared to walk away and find another lender.
Build a relationship with your lender. The more you work with a lender, the more likely they are to work with you on terms.
Be persistent. Don’t be afraid to negotiate and don’t give up if you don’t get the terms you want the first time.May 12, 2023 at 4:58 am #2319Aashiq RasoolParticipantWhen applying for trade finance, negotiating business financing is essential for securing favorable rates and better terms. Interest rates, prepayment terms, and personal guarantee provisions are key areas to negotiate. This step is crucial as businesses aim to secure finance on favorable terms and pricing.
Being well-prepared and knowledgeable about fee structures can help negotiate favorable terms. Seeking advice from local trade bodies can provide insights into avoiding risks and understanding loan and insurance charges and structures.
March 12, 2024 at 7:07 am #2430jamesdavid123ParticipantIf you are prepared and understand the structure of fees and charges, Reliable professional wikipedia writers you will be in a better position to negotiate terms that are in your favor. Small business owners can approach lenders to lower interest rates or develop payment plans.
-
AuthorPosts
- You must be logged in to reply to this topic.
Search Forums
Join our forum
Topic Views List
Forum Statistics
- Registered Users
- 78
- Forums
- 16
- Topics
- 210
- Replies
- 424
- Topic Tags
- 8