Prominence Bank

Can Prominence Bank help finance a trade if I don’t have the cash up front (for example, via collateralized deals)?

Yes, one of our key offerings in trade finance is to overcome cashflow issues in global trade . Suppose you have a purchase order for goods but need funding until you can resell them – we could structure a solution such as financing against a collateralized Letter of Credit or using a trade loan secured by the goods or an insurance policy. We also provide pre-export financing (advancing funds to producers against contracts) and post-shipment financing (like discounting an LC so you get paid right after shipping). All these solutions are customized, but the goal is to make sure a profitable trade opportunity isn’t missed just due to timing of cash. We often work with insured trade transactions: for example, if the deal is covered by credit insurance or involves confirmed LCs, we can fund a high percentage of it with relatively low risk . Each case will be evaluated for compliance and risk, but we strive to empower our clients to maximize trading potential.

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