by: Grow VC Group
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WASHINGTON, D.C. and Los Angeles, CA — June 16, 2015, ExWorks Capital, LLC, and TradeUp Capital Fund (a Grow VC Group company) announced a cooperation agreement on marketing and processing small business loans for U.S. exporters.

The two companies will together offer unparalleled export financing solutions to U.S. exporters, drawing on a season staff of experts, including the former Vice Chairman and COO of the U.S. Export-Import Bank. In particular, the cooperation centers on offering TradeUp customers the following services:

  • Flexible working capital financing to U.S. Exporters, including P.O. financing and asset-based loans in the $1mm-$5mm range with advance rates of up to 75% against exportable inventory – Raw, WIP, Finished Goods — and up to 90% against accounts receivables from overseas buyers.
  • Uniquely, export trading company services where a U.S. company selling overseas can outsource the export process.  ExWorks Capital can take delivery ex works from the U.S. operations and handle logistics, and structure appropriate trade terms with the overseas buyer, thereby making this like any domestic customer. By outsourcing this activity, the exporter gets money for the export sale and takes risk off the table selling to the overseas buyer. The transaction sizes can be a few hundred thousand to several million.

Alan Beard, COO of ExWorks Capital, said “Our team is excited to be teaming up with TradeUp to provide export financing to small capital starved exporters using an electronic platform to reach a wider audience.  Peer to peer lending is taking off and by using the TradeUp website, ExWorks Capital looks to reach smaller companies more efficiently.”

Kati Suominen, Founder and CEO of TradeUp said, “Our collaboration with ExWorks Capital, a leading financial services firm in the export space, opens new opportunities for TradeUp to help U.S. exporters to meet their entire range of capital needs to expand their international sales and boost their global competitiveness. We look to scale this service significantly through the TradeUp platform.”

About ExWorks Capital

ExWorks Capital offers export trade financing solutions to U.S. exporters and qualified international buyers using ExIm Bank and SBA loan guarantees, private insurance, letters of credit, etc., as appropriate. With a team of experienced, international finance experts, including the former COO and Vice Chairman of the U.S. ExIm Bank and the former CEO of the Overseas Private Investment Corporation (OPIC), the firm is uniquely qualified to offer creative solutions to support export sales and direct foreign investments in emerging market economies. Unlike a traditional lender, ExWorks Capital can be more creative and flexible in solving international financing problems.

About TradeUp Capital Fund

TradeUp (a Grow VC Group company) is the premier digital finance platform for exporters, a rapidly growing and outperforming segment. TradeUp helps export-driven companies across their capital needs. TradeUp enables export-driven companies to connect and transact with accredited investors to raise $100,000-$20mm in debt, equity, or royalties-based financing for a variety of growth purposes. Conversely, accredited investors can use TradeUp as a portfolio diversification strategy in a dynamic segment of U.S.-based companies. Via its collaboration with ExWorks Capital, TradeUp now also offers export working capital loans to fulfill foreign orders, as well as a range of export trading company services.

To apply for export financing, please go to: http://www.tradeupfund.com/export-finance.html

Press release on TradeUp site, http://www.tradeupfund.com/tradeup-and-exworks.html

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Grow VC Group The Grow VC Group is the world leading, global pioneer of securities crowd funding, peer to peer marketplaces, new investment models and global business development. Established in 2009, the Group has developed new investment models on six continents and continues to innovate the global market.

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This entry was posted on Monday, June 22nd, 2015 at 4:00 pm and is filed under Business Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.