Foreign Loans

EXPORT ADVANCES  

Export Advance services, on Invoices, Contracts or on export flows, in euros or in foreign currency, are forms of short-term export financing that allow trade receivables from foreign counterparties to be transferred to the bank, obtaining advances on future receivables subject to collection.

The advance allows to obtain part of the liquidity needed by the company and can be requested by submitting to the bank:

• invoices issued to customers resident abroad relating to sales abroad already made or even planned on the basis of orders already received
• contracts entered into with customers not resident in Italy, with the commitment to providing the bank with the necessary documentation and to submitting the invoices as soon as they are issued
• the documentation, in the case of regular exporters, showing the amount that the customer expects to turn over, over the reference period, from the flow of exports to be made abroad

Submission of the invoices or other documents can also take place in digital form on the Inbiz portal, enabling full autonomy to:

• Upload and view invoices or other documents for which an advance is to be requested
• Send advance requests to the bank with a digital signature
• Monitor the processing status of the invoices for which an advance has been requested
• Manage requests for extension and settlement of the loan
• Manage currency conversion requests, limited to the International Invoice Advance product

The management of export advances in digital mode does not require service activation costs and allows simplified invoice archiving.

IMPORT FINANCING OR FINIMPORT 

Import Financing or Finimport responds to the need of importing companies to obtain short-term liquidity for the payment of goods or services purchased from suppliers resident abroad.

A company can obtain a credit facility that can be used for the payment of supplies of goods or services commissioned abroad, against which the invoices issued at its expense by suppliers not resident in Italy, the contracts stipulated, the purchase orders for goods issued or other similar documents are produced.
At the request of the company, the import financing amount may be transferred by the bank directly to the foreign supplier in payment for the supply of goods or services, thereby allowing to postpone the date of current account debit of the equivalent value of the goods purchased abroad and thus ensure availability of the working capital required to meet liquidity needs.

If the import financing is in a foreign currency, it is possible to hedge against foreign exchange risk by postponing its conversion into euros.
In addition, it is possible to use any export currency receipts to reduce import financing in the same currency.

In order to request a Finimport in electronic mode, it is necessary to be the holder of an Inbiz contract. Through the use of the digital channel it will be possible to apply digitally for the loan, manage its life cycle by requesting an extension, total/partial settlement and conversion thereof as well as monitor the outcome of the related requests.

To learn more about Foreign Loans, reach out to your Intesa Sanpaolo contact person or fill out the “Request Information” form. 

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For the contractual terms and conditions of the Inbiz Portal, the products and services mentioned, read the Information Sheets available at branches and on the bank’s website www.intesasanpaolo.com. The granting of the loans is subject to the bank’s evaluation and approval.