Importers to benefit from new package - ToyNews

Importers to benefit from new package

UK financial firm launches new product to assist toy importers with funding and logistics.
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Davenham Trade Finance has developed the Integrated Stock Funding (ISF) package for firms looking to fund transactions between £10,000 and £4 million.

Through ISF, Davenham funds imports, hold and control stock and aid distribution., while also allowing importers to sell direct to consumers over the internet.

The new product has been introduced after Davenham recognised large retailers were attempting to maximise their own margins and place the responsibility and risks on importers.

Clive Naylor, sales and marketing director for Davenham said: “More and more large retailers are looking to the toy importer to take the risks on goods and have stopped issuing strict purchase orders. This leads to the importers being overloaded with fixed costs for warehousing and distribution. ISF removes this rigid and frequently imposing cost burden. It also takes away a large amount of administration such as determining the level of duty payable, and arranging freight and distribution. This leaves the entrepreneur free to concentrate on what they do best - finding and selling to customers.”

Naylor said ISF operates on a transactional basis with fixed interest rates so importers know exactly what profit they will make.

“These benefits, combined with our ability to fund importers who may not be able to provide sufficient security to satisfy the banks, should ensure ISF is a highly popular product. It will facilitate deals that simply weren’t possible before,” he said.

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