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Finance Ireland, a specialist lender founded by former banker Billy

today

will decide this quarter whether to enter the residential mortgage market.

If the plan goes ahead, the company will be competing with the five mainstream mortgage providers by the third quarter of this year.

“We’ve been sidetracked by commercial lending but a lot of the background work has been done on residential mortgages,” said Kane.
Finance Ireland, a specialist lender founded by former banker Billy Kane, will decide this quarter whether to enter the residential mortgage market.

If the plan goes ahead, the company will be competing with the five mainstream mortgage providers by the third quarter of this year.

“We’ve been sidetracked by commercial lending but a lot of the background work has been done on residential mortgages,” said Kane.

“We haven’t decided either way but, if we go ahead, we’ll compete for head-on with the banks, offering a competitively priced product through mortgage brokers.”

Unlike other non-bank players such as Pepper Ireland and Dilosk, which concentrate on segments such as buy-to-let investors or borrowers with past credit problems in the past, Finance Ireland is looking at the mainstream mortgage…

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“We haven’t decided either way but, if we go ahead, we’ll compete for head-on with the banks, offering a competitively priced product through mortgage brokers.”

Unlike other non-bank players such as Pepper Ireland and Dilosk, which concentrate on segments such as buy-to-let investors or borrowers with past credit problems in the past, Finance Ireland is looking at the mainstream mortgage…

Without trade finance, there wouldn’t be Indian spices, clothes, or jewelry in the United States. Or Apple’s iPhones in China, much less any other international product at any respectable distance from its origin.

In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80%-90% thanks to trade finance.

For this to continue, companies need to include trade finance in their business development strategies.

How do you do that? Learn how you can incorporate trade finance into your business development strategy.

Incorporate Inland Trade Finance in Market Penetration and Market Development

What

Market penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.

While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.

For instance, let’s say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.

You have a long history with this client. And know that your product is selling quickly in your customers’ shop. In which case, you could propose selling the client more jewelry for a bulk price.

After negotiating, the client agrees. However, despite the long, positive history you’ve had with the client, the client may not feel comfortable paying you before you export the jewelry.

This is where a trade financier or banking institution comes in, providing a letter of credit promising that you will export the jewelry upon payment.

Consider the Internet and Brick-and-Mortar Stores

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If you’re already selling more of your product or service to clients, perhaps it’s time to branch out to another channel such as the Internet?

If you run a successful e-commerce store, maybe it’s time to start a brick-and-mortar store as well?

That way, your customers have more options where to buy your products.

Especially when it comes to brick-and-mortar stores, trade finance can help you secure new import and export trade deals-especially when there are multiple currencies involved.

Creating a New Product or Service for Repeat and New Customers

With repeat customers, you’re doubling the number of products the repeat client is importing.

And, with new clients, your new product or service will expand your client base. It’s important that you first create new products for your repeat customers before jumping to new customers, as it involves more risk.

Again, trade finance can help cultivate more trust during this period of growth. Since trade financiers or banking institutions can create letters of credit, laying out the terms the importer and exporters must follow.

Final Thoughts About Your Business Development Strategy

Know that growth doesn’t happen in a day; it’s harder for businesses to jump from market penetration to supplying new products to new clients.

This is why we recommend that you approach growth slowly. However, know that trade finance may help increase the number of clients you trade with, no matter where they are.

What’s your take on trade finance? How has it helped your business? Share your thoughts, comments, and responses with us.

Adam Smith Associates Pvt Ltd is one of India’s leading Trade Finance Company, performing the business of arranging finance and providing consultancy, advisory, structuring, and management services relating to finance transactions. One of its main expertise is in commodity finance.

Adam Smith Associates work hand in hand with Indian and International corporations and banks to manage complex finance structures.

Its corporate office is located in New Delhi – the capital of India, while one of the branches is at Indore. Internationally its affiliates are based in Singapore, Dubai, Hong Kong, Tokyo, and Nigeria.

Without trade finance, there wouldn’t be Indian spices, clothes, or jewelry in the United States. Or Apple’s iPhones in China, much less any other international product at any respectable distance from its origin.

In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80%-90% thanks to trade finance.

For this to continue, companies need to include trade finance in their business development strategies.

How do you do that? Learn how you can incorporate trade finance into your business development strategy.

Incorporate Inland Trade Finance in Market Penetration and Market Development

Market penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.

While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.

For instance, let’s say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.

You have a long history with this client. And know that your product is selling quickly in your customers’ shop. In which case, you could propose selling the client more jewelry for a bulk price.

 

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Communicator. Alcohol fanatic. Entrepreneur. Pop culture ninja. Proud travel enthusiast. Beer fan.A real dynamo when it comes to buying and selling sheep in Nigeria. Spent 2002-2007 licensing foreign currency for fun and profit. Spent 2001-2007 selling heroin in the financial sector. Developed several new methods for buying and selling jungle gyms in the UK. Prior to my current job I was investing in pond scum in Hanford, CA. Garnered an industry award while working on jump ropes in Salisbury, MD.