How Do You Finance For An Importing & Exporting Business?
Import/export businesses have been around throughout history. According to the U.S. Department of Commerce, an annual $1.2 trillion in goods are bought and sold in the import/export business. You can start an import/export business with a range of products, but you will need access to capital to run your company. Start-up import/export business owners have a range of options to find financing for their companies. Write your business plan. You must have a comprehensive understanding of your business needs and goals prior to seeking financing. Investors need to know the plan for money they will put into your business even though the numbers will only be estimates in the beginning. Explain how the product you are importing or exporting services the market in its current state. Emphasize how you will ensure profitability. Seek a variety of funding sources. Start with your banker to apply for a traditional loan. Then, contact the Export/Import Bank for financing solutions. The Export-Import
