French carrier CMA CGM said it has launched an “innovative financing offer” that enables shippers to access financing without a requirement for credit insurance.
SHIPFIN bill of lading (B/L) will benefit shippers who need to access funds before their own customer has paid them, which will most likely mean small to medium sized enterprises. The financing offer uses the shipment’s B/L as collateral for the financing rather than requiring the shipper to use expensive credit insurance.
“The SHIPFIN offer provides simple, reliable and rapid financial solutions dedicated respectively to importing and exporting customers,” said the carrier. The system includes;
- SHIPFIN cargo financing for exporters who want to increase their working capital and ensure their company’s growth.
- SHIPFIN supply chain financing for importers who want to free up their working capital while stabilizing their supplier relations.
SHIPFIN is offered under the CMA CGM+ range of product solutions which the company said complements its conventional supply chain services.
“The CMA CGM Group is able to provide customised solutions to meet all customer expectations: whether they wish to protect their cargo, grow their business or ACT towards carbon neutrality, CMA CGM+ is specifically designed to meet their needs,” claims the line.