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Packing Credit Obtainment

Construction Materials and Engineering
From India
To Indonesia
230 views / 1 experts
Dec 09, 2022

How do I get packing credit?

1 answer

Dec 09, 2022

Once you’ve received a confirmed export order from your buyer, contact your bank and make a formal application for a Packing Credit. The bank will ask for documents related to your company as well as the export order.

Upon submission of the documents and establishing their credibility, the bank takes a call on the amount of credit they will provide you. Generally, banks have a Packing Credit Limit of up to 20 to 25% of your total annual sales on your balance sheet.

If you have multiple export orders, the bank opens different loan accounts for every order. Once the funds have been sanctioned, the bank starts charging the interest until the repayment is done for the full amount.

Banks ask for phase-wise information about your expenditure and disburse the amount accordingly in parts.

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