Textiles (SIC 13923)

Textiles, Materials and Cloth finance for importers and exporters

Trade Finance Global / Finance Products / Textiles (SIC 13923)

What is Textile Finance?

We assist in financing the purchase of textiles – whether you operate a large company or are a sole trader. These purchases place significant pressure on operators in an already tough industry suffering from reducing margins and higher base costs. We aim to create solutions for you, by offering various packages.

Textile Finance

The aim is to help in financing the purchase of raw materials and machinery in the textile industry that could assist with improving the cash flow of your business and lowering costs.

We work to offer the best textile finance to meet your needs.

Types of Textiles

Production, purchase of raw materials, machinery, sales.

Trade Finance Requirements
  •  Your business is looking for £50k+ trade finance
  •  You want to import or export textiles or raw materials and have suppliers/ buyers
  •  Your business is creditworthy
  •  Your business trades non-perishable stock
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 Textile?

The SIC Code is 13923 (Manufacture of household textiles)

Other SIC Codes that could also be used are:

  • 13100 Preparation and spinning of textile fibres
  • 13200 Weaving of textiles
  • 13300 Finishing of textiles

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Textiles Case Study

Yorkshire Clothing Manufacturer

Financing was needed by a family owned company which imports high value textiles, including clothing, from Asia. The company sells predominantly in the UK, France and Italy. The most difficult element facing the company’s expansion was access to capital that widely varied throughout the yearly cycle. By working with trade finance providers it has allowed the company to work with more seasonal and varied clients.


Textile Finance

Speak to our trade finance team

Benefits

  •  No security or personal guarantee required
  • Non-pharmaceutical chemicals finance available even if the banks refuse finance
  •  Our partners find you solutions to increase trade
  •  Fast turnaround – get clothing finance in 24 hours

What is Trade Finance?

Want to learn more about trade finance? Download our free guides

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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.

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