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Royal Bank of Scotland (RBS) has successfully secured the international business of Shubiz by agreeing a trade cycle finance facility (TCF) with a total size of £2.3mn.



Shubiz designs and sources ladies shoes from the Far East supplying to major UK store groups. The company previously traded as a commission-based agent and recently changed its business model to that of principal thereby necessitating the need for increased bank support.



The company was projecting annual sales of around £6.5mn and reflecting the seasonal nature of the business, looked to the bank to support its importing and sales activities with a £2.3mn financing facility. 



The recently-launched TCF package is an end-to-end finance solution that RBS offers to customers importing goods into the UK for onward sale to businesses in the UK or overseas, so they can meet their individual trade needs.



RBS Invoice Finance and UK Corporate Banking work together to present a streamlined, speedy and secure solution to their trade finance needs. The focus remains on the customer and each TCF package is tailored to meet their specific trading requirements.



With Shubiz, the solution was a £1.5mn confidential invoice discounting arrangement through the RBS Invoice Finance business and a trade finance facility from the bank of £650,000 involving a 30-day import loan plus a duty deferment guarantee.