A Guide to Starting a US Import Trade Business with Financing Options

Posted by on January 10, 2018 in Importer | Comments Off on A Guide to Starting a US Import Trade Business with Financing Options

Export and Import are not new terms. The business of trading (importing and exporting) has been going on for 10,000+ years. Trade had made it possible for the middleman and the pioneers in the export and import business to become rich and prosperous and create the Great Houses. Even today, when a business goes global, it leads to the generation of more wealth in a short span of time. Furthermore, when a company enters the global business or international trade market, it indicates the success of the business. What are the main motives for Import Business? Accessibility: As much as we like we cannot be self-sufficient. Neither at individual level nor at a country level. With Import/Export in place, all the countries make good and services accessible to their citizens even when they are not able to produce or make it within the country. Prestige: There are many things that a country can produce but there would be few products that the country would specialize in. For example Scandinavian furniture, German beer, French perfume, Egyptian cotton. Being able to attain the specialty of a foreign country is a matter of reputation and prestige for many. Hence, some luxurious goods and services are imported for self-esteem. Price: Another major factor why a country would allow imports is because it makes the commodity or service more price effective. Many times, it is cheaper to import from another country rather than trying to produce it within the country boundaries. Walmart has a large presence in China because of the billions of dollars of goods it imports from there to the US. How do I get started? One of the preliminary things you need to do is to get acquainted with U.S Customs and Border Protection (CBP) policies and procedures.  If you are planning to start an import/export business, you need to fill up CBP entry form and you may also need to obtain a license from local or state authorities to do business. The CBP website contains detailed and valuable information for new and experienced importers. Thorough knowledge of these policies and procedures would help you avoid any potential problem with clearance of your imported goods. Once you are sure of all legalities, start by choosing a Business name. Setup a website and blog to make yourself visible on the global market at an online platform. Then, choose a product that you want to import and find the right market. Get into details of everything. A thorough market research is a precondition to establishing a profitable venture. You should know who you want to cater to and who you want to depend on for providing the commodity. You can always ask the manufacturer to improve and enhance the products as per your customer base. Decide on the volume you want to import and at what price.  Ascertain the commission you want to earn and the price you would be selling the product to your customers. Finalize on business dealing contracts. Now you are ready to get rolling. Following is the Import trail: Collect the exporter’s quotation and negotiate if required. Open a letter of credit at your bank or financial institution. Confirm that the merchandise has been shipped. Obtain documents from the exporter. Verify merchandise through customs. Collect your merchandise. What Import/Export Trade Challenges You Should be Prepared for? Since under Import/Export trade, you are dealing with a foreign country or multiple foreign countries, you should be prepared for various challenges as the business cycle is comparatively long and complex. Let’s take a look at some of them: Sourcing Life would have...

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11/02/15 – Factoring Company Paragon Financial Group to Hold 4th Quarter Non-Recourse Factoring Education & Training Webinar

Posted by on November 1, 2015 in | Comments Off on 11/02/15 – Factoring Company Paragon Financial Group to Hold 4th Quarter Non-Recourse Factoring Education & Training Webinar

MIAMI, FL – Paragon Financial Group, a 21-year-old factoring company, announces its 4th webinar of 2015. Topics covered will include non-recourse Factoring education & training, import purchase order financing, funding with tax issues and generating online leads. The webinar will be held on Friday, Nov 6, 2015, from 11:00 am to 12:30 pm EST. Paragon holds webinars once per quarter providing further education and tools for its successful factoring broker program. The webinar will feature Paragon Financial’s National Sales Manager Chris Curtin and web marketing guru Paul Joachim. For over two decades, Mr. Curtin has been assisting entrepreneurs with their working capital and cash flow needs. Mr. Joachim has been generating online leads since 1995 and has been working closely with Chris for nearly 18 years. Together they have over 26 years of factoring industry experience and over 35 years of marketing success. This new webinar will pay special attention to the Wine, Beer and Spirits sectors when it comes to importing PO financing, tax issues, and online leads. To sign up and for more information, please visit https://www.paragonfinancial.net/financial-intermediary-school-broker-education-training. About Paragon Financial Group For over two decades, US companies across all industries have selected Paragon Financial to meet their working capital needs. Non-Recourse Accounts Receivable Facilities are available for $3,000,000 USD. From government contractors to distribution companies, from staffing firms to manufacturers; business owners have successfully grown their companies with Paragon Financial’s Non-Bank Invoice Factoring, Accounts Receivable Management, Credit Protection, and Purchase Order Financing Programs. For fast funding now, please call 888-271-9347 ext 1 or visit our website...

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06/30/2015 – Paragon Financial Group Announces an International Trade Funding Program for EU, South American and Asian-Based Companies Selling into the United States

Posted by on June 30, 2015 in | 0 comments

Ft. Lauderdale, FL – Paragon Financial Group announces an international trade funding program for EU, South American and Asian-based companies to fund and credit protects their sales into the US. In reaction to the Greek financial crisis and other liquidity events around the globe, Paragon Financial has created this program to assist international sellers of goods into the US hampered by the constraints of their local banks and with the safety of credit protection. This ability to fund is vital to continue in the import and export business as the Greek, China’s and other liquidity crises unfold around the global economy. There are predictions the crises will have serious ripple effects across the global economy. Zhiwei Zhang, from Deutsche Bank, says China faces a “fiscal cliff” in 2015 as Beijing deals with out-of-control spending. “This year, China will likely face the worst fiscal challenge since 1981. This is not well recognized in the market,” he said. Mark Thompson of CNN Money says, “A Greek bankruptcy would be the largest in history, and test the firewall the European Central Bank and other institutions have been building since 2012. Some investors will be thinking about 2008 when the collapse of Lehman Brothers marked the peak of the financial crisis.” With this new international trade funding program, Paragon Financial can typically fund all landed costs of goods brought into the US. Credit protection is offered as long as the company’s US customer is creditworthy and will confirm that the goods quality, quantity and timeliness parameters have been met. This is an essential part of Paragon Financial’s program for companies experiencing severe liquidity issues. A company will need to form a US subsidiary to participate in this program. Chris Curtin, Paragon’s Director of Sales states, “With the liquidity crisis happening around the world and our expertise in funding US importers, we thought it was a natural progression to help smaller and middle market companies in other countries with their cash flow and credit protection needs”. About Paragon Financial Group For over 21 years, US companies across all industries have selected Paragon Financial to meet their working capital needs. Facilities are available up to $3,000,000 USD. From government contractors to distribution companies, from staffing firms to manufacturers, business owners have successfully grown their companies with Paragon Financial’s invoice factoring, accounts receivable management, credit protection and purchase order financing programs. To get funded now, please call 888-271-9347 or visit...

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Factoring Importers – Canadian Goods

Posted by on February 21, 2015 in Accounts Receivable Factoring, Factoring, Purchase Order Factoring | Comments Off on Factoring Importers – Canadian Goods

At Paragon Financial we work with importers bringing in goods from Canada providing their businesses working capital to succeed.   Quickly and efficiently leveraging purchase order financing, cash against documents funding, accounts receivable financing and credit protection. Below are several interesting facts about Canadian goods being imported into the U.S.: Canada ranks #2 behind China for the most imports into the U.S.   U.S. goods imports from Canada totaled $332.1 billion in 2013(the latest statistics available), a 2.5% increase ($8.1 billion) from 2012, and up 50% from 2003. U.S. imports from Canada are up 308% from 1993 (Pre NAFTA). U.S. imports from Canada account for 14.7% of overall U.S. imports. U.S. imports of agricultural products from Canada totaled $21.8 billion in 2013, our largest supplier of Ag imports. Leading categories: snack foods (including chocolate), ($3.2 billion), red meats, fresh/chilled/frozen ($1.9 billion), other vegetable oils ($1.7 billion), live animals ($1.7 billion), and processed fruit and vegetables ($1.4 billion). U.S. imports of private commercial services* (i.e., excluding military and government) to Canada were $29.8 billion in 2012 (latest data available), up 4.8% ($1.4 billion) from 2011, and up 66% from 2002 level. It was up 227% from 1993 (Pre-NAFTA). The other private services (business, professional and technical services), and travel categories accounted for most of U.S. services imports from Canada. Top 10 US Imports from Canada 1. Oil: $119.8 billion 2. Vehicles: $56.3 billion 3. Machines, engines, pumps: $21.1 billion 4. Plastics: $11.4 billion 5. Wood: $8.8 billion 6. Electronic equipment: $8 billion 7. Aircraft, spacecraft: $8 billion 8. Aluminum: $7.4 billion 9. Paper: $7 billion 10. Gems, precious metals, coins: $6.6...

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01/31/2015 – Paragon Financial Group Sees Large Increase in Food & Beverage Import Industry Financing

Posted by on January 31, 2015 in | 0 comments

FOR IMMEDIATE RELEASE Ft. Lauderdale, January 31, 2015 – Paragon Financial Group has seen a major increase in the working capital needs of their food & beverage importer clients throughout the last quarter of 2014 and into 2015. Paragon’s import clients closely followed the biggest revenue gains in US food & beverage imports (US Census Bureau) between 2013 and 2014 including wine, beer and spirits, meat products, fish, nuts, coffee and olive oil. “We have seen an increased demand for funding with many of our clients importing food from regions such as Spain, Chile, Peru, Ireland and Italy. Paragon is well positioned to fund this food & beverage import businesses. We quickly get import businesses the critical working capital they need”, said Jon Anselma, Paragon Financial’s Managing Partner. Paragon Financial’s premium meat import clients have seen the largest boost in financing needs along the entire supply chain. Last year, the United States imported around $4.8 billion, worth of premium grass-fed, hormone-free beef according to the New York Times. Anselma said, “This month the US lifted a ban on beef imports from Ireland after more than 15 years. Ireland’s beef exports to the US may total 119 million dollars this year. Readily available working capital is required for importers to take advantage of these opportunities. We already see an impact on funding requests.” Wine, beer and spirit importers have also seen a large demand for working capital. Much of the demand is from an increase in sparkling wine imports which is up 11.54 percent with overall wine imports up 2.53 percent over the same 10-month period last year, according to WorldCity analysis of the latest data. About Paragon Financial Group For over 20 years, US companies across all industries have selected Paragon Financial to meet their working capital needs. From government contractors to distribution companies, from staffing firms to manufacturers, business owners have successfully grown their companies with Paragon Financial’s invoice factoring, AR management, credit protection and purchase order financing programs. To get funded now, please call 888-271-9347 or...

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