An exporter needs funds to procure raw materials and produce finished goods before sending shipment cross border. Packing credit facilitates the funding necessities of an exporter to manufacture the goods for the shipment.

One can avail export finance to meet varying working capital needs like the purchase of raw material, processing, manufacturing, warehousing, transportation or packing of items required for shipping.

This type of loan is available at competitive interest rates to ensure exporters can avail the necessary funds to complete orders. Export packing credit reduces the chances of missing out on available trade opportunities and helps a business grow meet larger demands with credit being available. This is essential from the working capital perspective as the buyers are often reluctant to make advance payments to the exporters.

Eligibility Criteria for Export Credit Loan

The eligibility criteria for Export Credit Loan

  • An Import Export Code (IEC) issued by the regional office of DGFT (Director General of Foreign Trade.)
  • A confirmed export order or a letter of credit.
  • Also, the exporter should deal with items listed under freely exportable goods. If the items to be exported fall under the negative list, he/she must acquire a license to export such goods.

How To Apply For An Export Credit Loan?

At SME Paisa, you can apply for Secured Export Credit Loan online or offline. Walk into our nearest branch office for a free consultation and guidance regarding an ideal funding option suiting your needs. Or, you may choose to apply online and get an instant approval for funds. Remember to keep a soft-copy of documents required for Business loan ready for upload in case of an online application

Document Required for Export Credit Loan

The list of documents required for a Export Credit loan includes:

Frequently Asked Question

Your loan can serve a variety of needs, everything from home renovation to debt consolidation and more.

If all your documents are in order the loan should be credited to your account in 24 hours.

Yes, but it comes with a marginal charge. You can read about it

Partners /Promoter Directors will be taken as co-applicant in case of Partnership/Pvt ltd co. respectively.

We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.