PrimaDollar was founded in 2015 to provide a low cost and practical solution to the financing of supply chains around the world.
We have offices across South Asia allowing us to serve needs of emerging market exporters in lower cost locations via our local teams - and support their international buyers with our resources in-country.
We are now developing export support services in the UK, Europe and the US.
FACT: most supply chain finance does not provide the support needed by suppliers.
Supply chain finance has become a much-discussed topic. Whilst many multi-nationals have successfully implemented programs to help their larger suppliers, most global trade is unsupported for a variety of reasons. These reasons include:
FACT: margins in supply chains are reducing, and so cost is a major factor in decision-making.
In most industries, margins are being squeezed by the internet and the rise of fulfillment retailing models (led by Amazon, Ebay etc). Any supply chain finance provider has to focus on providing an efficient, easy-to-use, quick and simple solution. But the most important requirement is that costs are kept low and this requires:
FACT: banks are not best placed to provide international supply chain finance.
Most banks are reducing their commitment to trade finance and cross-border banking activities. Regulators are generally influencing banks to use domestic deposits to fund domestic retail assets. Capital allocation under Basel III means the economics of trade finance are less attractive for Western banking groups and compliance oversight makes it increasingly expensive to manage international counterparty risk.
FACT: most buyers are looking to find lower cost locations, but finance is a major obstacle.
As margins come under pressure, buyers are having to find smarter sourcing solutions, but moving supply chains to lower cost locations inevitably runs into problems when new suppliers need LCs or cash upfront. Solving this issue opens huge opportunities for buyers to reduce costs without pressure on banking lines, financial covenants or procurement departments.
PrimaDollar launched its first financing solutions in Q4 2016, focusing on garment exports out of Bangladesh to clients around the world. Rapid growth has followed as PrimaDollar has expanded geographically and into new industries.
PrimaDollar's solutions are quicker, cheaper and simpler
than the alternatives and are properly designed to meet the needs of suppliers.
We pay at shipment, our advance rates are high and our charges are low. We can take on trades at short notice because there is no software to install and we can potentially provide funds within 24 hours. Our platforms are designed precisely to fill the gaps in the market developing as a result of major global trends.