What is Iron and Steel Finance?

We offer bespoke and innovative iron and steel finance solutions to meet the needs of the sector. We aim to provide finance options for traders, construction businesses and all those that touch the iron and steel industry. We understand the difficulties that are faced, with growing macroeconomic pressures and resultant increasing margin pressure

Iron and Steel Finance

Previously we have used hire purchase, refinancing and leasing for a wide range of iron and steel. The way security is structured may vary in each matter.

We provide a high-quality service and aim to assist you in reducing your operating costs and increasing your cash flow, by financing or refinancing the raw materials used in your business.

Products we fund

Key iron and steel types include:

Pig iron
Cast iron
Wrought iron
Alloy steel
Micro-alloy steel
Ingot iron
Enamelling iron
Gray iron
White iron
Low carbon steel
Malleable iron
Chilled iron
Compacted graphite iron
Medium carbon steel
abrasion-resistant iron
alloy iron
Ductile iron
High carbon steel

Trade Finance Requirements

Your business is looking for £50k+ trade finance
You want to import or export stock and have suppliers/ buyers
Your business is creditworthy

How the transaction works

When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 30-180 days later.

What is the SIC Code for Iron and Steel Finance?

The SIC Code is 07100 (Mining of iron ores)

Other SIC Codes that could also be used are:

24100 Manufacture of basic iron and steel and of ferro-alloys
24200 Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
25910Manufacture of steel drums and similar containers

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Case Study

Flooring Company, Leeds

The business was growing and being increasingly successful in winning bids for various house builders. They could not finance the steel that was needed and so looked for a source of flexible finance. By using trade finance it granted them the much-needed facility in order to fulfil orders and expand the business.

The finance provided allowed the business to chase, win and deliver on big contracts, ensure that their product supply was not an issue and be more responsive to both new and existing customers.

Speak to our trade finance team

Benefits

No security or personal guarantee required
Automotive and vehicle finance available even if the banks refuse finance
Our partners find you solutions to increase trade
Fast turnaround – get iron and steel finance in 24 hours

What is Trade Finance?

About the Author

Mark heads up the trade finance offering at TFG where his team focuses on bringing in alternative structured finance to international trading companies. Prior to joining TFG (tradefinanceglobal.com), Mark qualified as a lawyer with a top ranked global trade and structured commodity finance team.

Mark has previously advised commodity trading firms, banks and alternative capital providers on international structured trade financings, pre-export, prepayment and limited recourse structures – notably in the oil, soft commodities and metals sectors. This has included mining finance projects, structured letter of credit facilities, receivables discounting and forfaiting agreements.

Iron and steel (SIC 07100)

Trade Finance for your business to fund iron and steel purchases