International Trade Operations and Finance Letters of Credit

A Letter of Credit (L/C) is a form of payment which gives equal protection to the Exporter (Seller) and the Importer (Buyer) on any trade related transaction. Heritage Bank is fully equipped to handle L/C issuance and negotiations locally. Heritage Bank’s experienced International Trade Experts can explain the various types and kinds of Letters of Credit and will assist in choosing the best option.

Foreign Exchange

Foreign Exchange (FX) trading involves buying and selling foreign currencies against U.S. dollars, or buying and selling one foreign currency against another. Heritage Bank has experienced and trained FX dealers ready and able to assist your foreign exchange needs. Our correspondents worldwide offer favorable exchange rates for the benefit of our clients.

Documentary Collections

Also known as Foreign Collections, this is another form of trade payment, whereby the seller seeks to collect payment from an overseas buyer by presenting negotiable documents through a bank. This form of payment is riskier than the letter of credit but less expensive. Heritage Bank can assist in determining if this form of payment is a viable alternative for your company.

Trade Financing

Heritage Bank has trained and experienced lenders capable of explaining, recommending and structuring various trade financing options that suit your company. Heritage Bank can assist your company’s export working capital requirements supported by trade insurance or various governmental guarantees.

EXIM Bank Designated Authority Lender

As an EXIM Bank Designated Authority Lender, Heritage Bank can guide you through the nuances of securing a 90% loan guarantee to support inventory purchases, pay production costs and provide delivery services.

SBA Export Working Capital Program

This will help companies with a proven track record and management experience to secure a $500K guarantee under the SBA Export Express Program or a $5MM guarantee under the SBA Export Working Capital Program. Both programs guarantee 90% of the loan.

Contact a Business Banker today.