What's Happening?
Belgian credit insurance group, Credendo, has introduced a new export finance service aimed at supporting small and medium-sized enterprises (SMEs) in Belgium. The service, named Credendo Export Finance
Solutions, offers an all-inclusive package designed to assist exporters in securing finance for their export contracts. This initiative is particularly targeted at exporters of capital goods and related services with a Belgian interest. The service includes tailored advice, credit structuring, and the identification of suitable financial partners. Credendo will also cover up to 95% or 98% of the export contract and manage associated political and commercial risks. Additionally, the company can provide direct financing solutions such as forfaiting and buyer credit.
Why It's Important?
This new service by Credendo is significant as it addresses the challenges faced by Belgian SMEs in securing financing for export contracts, which is often a complex and daunting task. By providing comprehensive support and risk management, Credendo aims to enhance the international growth of Belgian businesses while minimizing their financial risks. This initiative is expected to give Belgian exporters a competitive edge in the global market, particularly in a volatile economic environment. The service also underscores the strategic importance of supporting SMEs, which are crucial to the Belgian economy, in expanding their international presence.
What's Next?
Credendo's new service is likely to attract interest from Belgian SMEs looking to expand their export activities. The company’s efforts to provide tailored financial solutions and risk management could lead to increased confidence among exporters. As the export finance landscape becomes more complex, Credendo's initiative may set a precedent for other financial institutions to offer similar services. The success of this service could also influence policy decisions regarding SME support and export financing in Belgium.
