We have a range of export finance options available for Irish businesses.
When exporting, it is important to protect your business against the risk of non-payment by your overseas customers. Commercial risks include your buyer’s insolvency through bankruptcy or receivership.
Export credit insurance can help you mitigate these risks and protect your business against the risk of non-payment. There are a number of providers of this type of insurance so you may want to seek independent advice to ensure that the insurance meets your needs.
Euler Hermes provides trade related insurance solutions, including "Simplicity" which is an off-the-shelf credit insurance policy that protects against bad debt.
To find out more, call Euler Hermes on 01 518 7910 or visit http://www.eulerhermes.co.uk
AIB is not an agent or intermediary of Euler Hermes.
If you are considering exporting to new markets, check out DHL Express' exclusive 50% discount offer for AIB Business Customers.
A healthy cashflow is important for any business, and ensuring your business has the right type of funding to support this cashflow is critical to the success of your export strategy. Our €200m SME Export Finance Fund provides exporting businesses with a range of finance options, depending on how much you need, what you need the funds for, and your business repayment capacity. These include working capital (such as an overdraft or Invoice Finance) and bank finance. We can support your business expansion plans with medium or longer term loans and leasing facilities.
To win an export contract, your business may need to transact in a currency other than euro. This can expose you to exchange rate risk, whereby adverse currency movements may reduce or eliminate the margin your business earns on the underlying transaction. Talk to AIB Customer Treasury Services about the practical steps you can take to minimise this risk.
We have a range of solutions to help your business get paid securely in a way that suits you. With a documentary collection, you can use us as your collecting bank. Your shipping documents are held by us and are released to the buyer only on agreed terms, i.e. against payment or against acceptance of a bill of exchange. Alternatively, you can insist on a letter of credit if you would prefer security of payment prior to goods being shipped.
Our foreign currency accounts make it much easier to make and receive payments in foreign currencies.
You can make international payments and collections efficiently via our online business banking platforms.
Exporting, by its very nature, involves travelling abroad. You can save time and money on buying foreign currencies by availing of one of our credit cards, which are ideal for business use throughout the world.
When bidding for new clients and contracts overseas, you may need to provide bank guarantees or bonds. For example a tender guarantee can be used to accompany your tender, or a performance guarantee can provide assurance of performance if you win the contract.
Talk to us about what products are available to support your bid for a contract.
Exporting is complex and challenging and it takes time and effort to succeed. You need a strong commitment and resources to compete for business in new territories. But with careful research and planning, exporting can be a rewarding growth strategy for your business.
Our Export Plan Template is specifically designed help you set out and assess your exporting strategy.
Don't forget there is a wide range of support available from government agencies and representative groups. Check out our export useful links for more details.
Please note that the provision of this product or service does not require licensing authorization or registration with the Central bank of Ireland and as a result it is not covered by the Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme.
Some of the links above bring you to external websites. Your use of the external website is subject to the terms of the site.