Moneytech launches integrated equipment import finance facility, combining trade finance, FX and equipment finance
Leading business growth platform, Moneytech, has launched a new equipment import finance facility, seamlessly integrating payments via trade finance, foreign exchange (FX) and equipment finance into one simple transaction.
The solution covers all aspects of manufacturing, importing, commissioning, payment and long-term asset finance of overseas equipment and machinery, and is designed to support Australian businesses looking to import machinery and equipment from offshore suppliers.
Through the Moneytech facility, equipment can be funded at a later date on an equipment finance loan across a variety of industries including manufacturing, civil, transport, agriculture and mining.
Moneytech Chief Executive Officer Nick McGrath said the new solution was all about making things easier for Australia’s rapidly growing business sector.
“We are the only platform that fully integrates a trade finance facility with foreign exchange solutions, and converts a short-term trade finance facility to a long-term equipment finance solution.
“Where other market operators may need to outsource these services to a third party, Moneytech offers all of these products in house. This removes the need to deal with multiple service providers when importing equipment from overseas, which is a major pain point for growing Australian businesses.”
FX forward hedging = pricing certainty
Mr McGrath said the FX forward hedging* component of the new solution was a key ingredient as it can give certainty of the total payment amount in AUD.
“We understand that an increasingly unpredictable market and daily currency flucations can put pressure on any business, so the FX component offers additional peace of mind and certainty.
“The ability to manage our client’s FX needs in house alongside our finance facilities allows us to mitigate fluctuations and risks for our business clients in a simple, streamlined way.”
Mr McGrath said the launch of this new solution further strengthened Moneytech’s position as an enabler of business growth.
“At Moneytech, we are continually investing in our product and service proposition with the aim of removing financial stress for our business clients and replacing it with financial opportunity. This continues to resonate with our customers, with more than nine out of 10 businesses continuing to work with us each year. We also remain focused on our relationship with brokers, a key part of our distribution strategy will be via the third party referral channel.”
To find out more please visit www.moneytech.com.au.
*Forward exchange contracts will need to be taken out on every transaction and the FX rate will be an agreed market rate on the day of payment.