Reliable, timely, simple
We offer a simple trade finance product. We pay the exporter at shipment and the buyer can pay later. If the buyer cannot pay, we take the risk. Buyers get open account or sale contract terms, whilst the exporter is paid upfront. This is exactly what importers and exporters need to make their lives easy and their trades work smoothly.
We know that our exporter clients rely upon us to make timely payments just as we promise, and to ensure that our charges are exactly as advertised: simple, clear, and low cost.
Trade finance from PrimaDollar delivers on our promise: “Ship, get paid”.
You can access our product in three ways:
- Directly from us. Contact us here
- From partners who integrate our trade finance using APIs (more here and see MSC’s trade finance product: here).
- As part of a Supply Chain Trade Finance program arranged for a large multi-national buyer to get cash at shipment to his exporting suppliers – more information here.
Here are the reasons why you can trust PrimaDollar to perform.
Why did we set up PrimaDollar?
There is a large financing gap emerging globally in supply chains because:
- Banks are finding trade finance a difficult product to offer.
- Increasingly banking is becoming less international because of compliance.
- The new Basel 3 regulations have made trade finance unattractive.
- Supply chains are moving around the world as importers look to have their goods made in lower cost locations. Exporters in these lower cost locations often have weaker access to credit, so they need help to meet the increasing demand of their customers. But international supply chain finance rarely pays at shipment and is often unavailable to exporters due to limitations of the programs.
- Local bank support for exports is declining. Various factors are involved including US dollar strength against local currencies across Asia, and increased pressure by regulators and politicians on local banks to address non-performing loans in the books.
These factors mean that the export finance gap is getting larger, and there is a huge demand for a reliable, low cost alternative from a non-bank provider like PrimaDollar.
How does PrimaDollar trade finance work?
PrimaDollar provides cash to exporters at low cost and without collateral against the shipping documents.
We work for buyers (importers) and for exporters. Either side of the trade can contact us to set up the finance.
There are a few simple steps:
- PRICE: Check our pricing online: here.
- LIMIT: Contact your local office to get a credit limit. We do not charge for this.
- SHIP: With your limit in hand, the exporter makes and ships the goods. Let us see the shipping documents (original or sometimes copy) and we will pay the exporter upfront in cash.
- COLLECT: The buyer pays us later. If the buyer cannot pay, this is our risk.
This system is simple, effective and clear.
Who is behind PrimaDollar?
PrimaDollar is run by a strong management team lead by the company founder, who is an experienced international banker. In 2018 we worked with supply chains across 26 countries. We have 10 offices around the world.
Our shareholders include the Mediterranean Shipping Company SA (www.msc.com) and Leste (see www.leste.com). Leste is a US$1bn international private equity fund with its main offices in Brazil, US and UK. Alongside Leste, PrimaDollar has strong roster of ultra-high net worth shareholders, all of whom are personally connected to the major stakeholders in the company.
Which financial institutions provide finance to PrimaDollar?
With the support of these shareholders, PrimaDollar has been able to build its presence and strong relationships with financial institutions like:
- Barclays Bank, who provide us with a US$ multi-million letter of credit facility that we use when exporters need LCs, and who handle all our payments and bank accounts (www.barclays.com).
- NIBC, who are our lead bankers, and who provide us with a substantial securitisation facility providing US$100m in financial firepower that we use for our transactions. NIBC is headquartered in Holland and has a balance sheet of over $20bn (www.nibc.com)
- Advance Global Capital, another of our senior lenders, who provide us with a flexible senior financing facility that we can draw at short notice to meet more urgent export finance needs (www.advanceglobalcap.com).
Whom else does PrimaDollar work with?
Our first and oldest overseas office is in Dhaka, Bangladesh. We have formed joint ventures with two local banks:
- Agrani Bank, a state-owned bank and one of the oldest and largest banks in Bangladesh. Agrani Bank currently provides over $4bn per annum of export finance to Bangladeshi businesses. Agrani Bank is now offering PrimaDollar trade finance solutions over the bank counters using us as a platform to handle the risk and financing. (www.agranibank.org)
- FSIBL, one of the leading Islamic banks in Bangladesh, has a similar program (www.fsiblbd.com).
The PrimaDollar teams in Pakistan, India and China are working on similar opportunities to partner with local banks in those countries.
How can I find out more?
With a global network and global coverage, talk to us.