UPS Capital recently announced plans to expand its financing options for in-transit cargo for small business US importers. The new UPS subsidiary plan “will increase the amount businesses can borrow from 70 percent to 100 percent of the supplier’s invoice” and extend loan repayment terms from 75 to 90 days. According to Small Business Trends, “UPS Capital’s enhanced lending services are designed to help small business importers manage cash flow more effectively by having vital access to capital.”
The new changes is a boon for small businesses with long payment terms who are looking to ship products at reasonable interest rates. One of the biggest issues for small businesses has always been access to cash to provide a product or service while waiting for client payment. To solve this problem, UPS Capital Cargo Finance service will allow pre-approved importers to borrow up to $1.5 million in unsecured credit lines.
The additional lending options and increased credit lines is a staple in the growing American economy, with more and more loan options being offered. If you’re a business that deals with shipping, check out the new UPS Capital loan options today.