Business Loan / Receivable finance

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  1. #1

    Join Date
    Dec 2006
    Posts
    222

    Business Loan / Receivable finance

    Hello,

    consider to get a (unsecured) business loan under a million HKD for my Ltd .
    Only need the capital to (bridge)finance finished manufactured goods til the shipment date.

    HSBC gave me a hefty quote with 0.75%/month.
    Anyone compared loan offers recently?

    Comes the alternate option to take a private loan + a insurance against default of the customer with lower costs than an unsecured business loan?

    Are there other options like finetrading, factoring?
    The costs of HSBC looked pretty high to me.

    Looking forward to your answers!
    Have a good day.


  2. #2

    Join Date
    Mar 2006
    Posts
    4,043

    These guys provide trade credit receivables insurance and factoring (if they are still in that market which I think they are) but that does not give you the bridge financing. Coface is a French company but is very strong in Asia of course.
    http://www.coface.com.hk/

    I see the The Entrepreneurs Network are hosting something in early July with the HKBAN. Check out Ten.org.

    Never quite understood the "angel" with financing as those guys often take 60% of the cash flow. Not my idea of an angel but I was never sure they actually exist beyond movies and books.


    Through TEN’s partnership with HKBAN (Hong Kong Business Angel Network) we are pleased to announce that the next Training Course for TEN members on “How to prepare the investment teaser and a 15-minute PowerPoint presentation to attract investors” will be held on Monday July 8, 2013 (2:30pm to 5:30pm) at InnoCentre in Kowloon Tong. Advance registration by July 4 is required, see below.

  3. #3

    Join Date
    Dec 2006
    Posts
    222

    Thanks. Going to check for the conditions of loan under SME guaranteed loan scheme.


  4. #4

    Join Date
    Apr 2003
    Location
    Hong Kong
    Posts
    3,988

    Factoring is very expensive (last time I enquired it was 25% of the value).