Letters of Credit
A Letter of Credit (L/C) is a form of payment giving equal protection to the Exporter (Seller) and the Importer (Buyer) on any trade-related transaction.
Heritage Bank's experienced international trade experts can explain the various types and kinds of Letters of Credit and will help you choose the best option. Heritage Bank is fully equipped to handle L/C issuance and negotiations locally.
Documentary Collections (Foreign Collections)
This is another form of trade payment, whereby the Seller seeks to collect payment from an overseas Buyer by presenting negotiable documents through a bank. This form of payment is less expensive than a Letter of Credit, but comes with certain risks. Our banking experts can help you determine if this is a viable alternative for your business.
The Export-Import Bank of the United States (EXIM) is the official export credit agency of the United States-and Heritage Bank is an EXIM Bank Designated Authority Lender. Our experts can guide you through the process of securing a 90% loan guarantee to help support inventory purchases, production costs and delivery services.
SBA Working Capital Loans
If your company has a proven track record and management experience, you could qualify for a $500K guarantee under the SBA Export Express Program, or a $5MM guarantee under the SBA Export Working Capital Program. (Both programs guarantee 90% of the loan.) Our banking experts can help you determine if this type of loan is right for you.
Foreign Exchange Services
Foreign Exchange (FX) trading involves buying and selling foreign currencies against U.S. dollars, or buying and selling one foreign currency against another. Heritage Bank has experienced and trained FX dealers ready and able to assist your foreign exchange needs. Our correspondents worldwide offer favorable exchange rates for the benefit of our clients.
Foreign Currency Wire Transfers
Send and receive international business transaction funds electronically with wire transfer service.