Belgian credit insurance group, Credendo, has launched a new export finance service to support the country’s small and medium exporters.
This new offering, called Credendo Export Finance Solutions, gives exporters an “all-inclusive package” to help them obtain finance their export contracts, the insurer said, including tailored advice and credit structuring.
The service is aimed at exporters of “capital goods and related services that have a Belgian interest”, in particular small and medium-sized enterprises (SMEs), according to Credendo – which provides a range of products, including Belgian export credit agency services.
As part of the Export Finance Solutions platform, the Brussels-headquartered insurer will help companies search for “the ideal financial partner”, identify the most appropriate structure for their transaction, and participate in the structuring when needed.
It will also cover the export contract up to 95% or 98%, as well as manage political and commercial risks.
Credendo can also provide financing itself, through direct solutions such as forfaiting and buyer credit, deputy CEO Nabil Jijakli said.
“In this way, the exporter eliminates the risk of non-payment and also gains a competitive advantage,” Jijakli said.
The new service is part of Credendo’s ramped-up efforts to accelerate Belgian businesses’ international growth, while limiting their risks.
“We know that getting the right advice and securing financing for export contracts is not always easy, especially for SMEs,” it said in a statement.
“The export finance landscape is becoming increasingly complex. This volatile environment makes financing backed by Credendo more attractive than ever for foreign buyers and, above all, represents a significant advantage for Belgian exporters of capital goods,” it added.
Earlier this year, Credendo refreshed its London-based team by hiring Rakesh Dozo as country manager, overseeing the UK and Ireland region.
