Northstar has expanded its global network to offer trade finance solutions and products by partnering with the New Zealand Export Credit Office (NZECO).
The new arrangement will allow Northstar to offer NZECO-backed vendor financing for export sales originating from New Zealand. It also equips New Zealand exporters with a competitive edge by allowing them to refer their international buyers to Northstar for attractive payment terms and timely financing solutions.
Northstar, with the support of NZECO, will provide fixed rate and variable rate loans for a term of up to five years to foreign buyers of New Zealand exports, to be repaid in accordance with a regular repayment schedule. These loans are for amounts up to US$10 million, and are often secured by a registered lien on the exported goods.
"We are very pleased to be able to leverage off Northstar's international network in order to help New Zealand exporters secure export contracts via the offer of extended repayment terms and a competitive financial package to creditworthy buyers," says Chris Chapman, Manager of the NZECO.
NZECO, New Zealand’s export credit agency, provides a range of government backed, financial guarantee and trade credit insurance products for New Zealand exporters, banks and insurers, helping them to manage risk and capitalize on trade opportunities around the globe.
For more information on the Northstar trade finance opportunity, please contact the NZECO.