The Canadian Exporter:
The Canadian exporter, is a Quebec based, leading manufacturer of flexographic printing presses and finishing equipment. Founded in 1991, the company has been providing ‘Canadian made’ high quality printing, converting and finishing equipment. With a strong, 50-person employee base, the company has built and innovated over the years to provide quick delivery and high-quality results that provides its buyers with custom built machines, parts and accessories that increases their productivity.
The company sourced an opportunity with a buyer in Turkey and was looking for help to secure the purchase of one of their machines.
The ‘buyer,’ the purchaser of their machine provides printing and stationery products and services in Turkey, for example coated paper, autocopy, bristol paperboard, tracing and paper pulp. The company also provides promotion products, e.g. self-adhesive notes, calendars and notepads.
The buyer had an existing relationship with the company and liked their quality and efficiency.
The ‘buyer’ was also in global expansion mode but face two significant head winds. One was access to capital and one was the high degree of volatility in the financial exchange markets. Simply, the local banks were unwilling to support the buyer because the deal would over leverage their balance sheet and the FX risk in the market added too much risk to the equation. This was bad news for the export company because they did not want to export the machine without full payment up front. Once the buyer had notified the Quebec company, the company immediately turned to James at Elevate for help.
Elevate engaged the buyer fast and efficiently, providing a quoted solution within 48 hours. The offer was attractive and accepted by the buyer.
Elevate provided a five-year term loan for USD$600,000
Elevate’s team of integrated, international experts, led by James created a high degree of speed and efficiency. The team was able to quickly package, underwrite and obtain EDC approval. The customer was then able to have the customer sign the deal and win the sale. The buyer had freed up capital and with access to Elevate’s finance options were able to make additional purchases from the exporter.
About Elevate Export Finance Corp:
· We are the leading provider of advice and support to Canadian SMEs on the global stage, with ‘in-market service support in 13 different countries.
· The firm’s diverse team of finance experts, strategists, analysts and sales professionals has over 100 years of banking and international finance/trade expertise.
· We are a service delivery channel for EDC on customer financing for deals under $10MM