International finance doesn't have to be complicated. The local wealth advisors at Bremer Bank can help you navigate a growing global marketplace with international banking services from documentation to foreign exchange services to financing needs.
Letters of Credit
When you need to establish your credibility with vendors or service providers, we'll either issue or advise you on a letter of credit. Each letter is backed by the reputation and credit strength of Bremer Bank and ensures your business partners get paid, as long as specific conditions are met.
Import Letter of Credit
We issue import letters of credit quickly and will work with you to meet documentary requirements to clear merchandise through U.S. Customs. If necessary, our financial advisors will even contact your vendors or service providers directly on your behalf to assist with the transaction.
Export Letter of Credit
When you receive an export letter of credit, we will review the letter with you to answer any questions you might have and discuss the flow of documents and payments. If necessary, we will also recommend changes to protect your interests. Our financial advisors will also work with you to evaluate programs to meet the export financing needs of your business.
Standby Letter of Credit
Bremer Bank issues standby letters of credit both domestically and internationally. This type of letter is sometimes issued to fulfill the requirements of a surety bond, performance bond, warranty guarantee, cash deposit or the backing of an open account sale. While it is never meant to be used, it may be drawn upon if there has been a failure in the underlying contractual obligations.
If your business is purchasing or selling goods or services in foreign markets, let us handle the financial transaction. Bremer Bank will work with the foreign bank to process all relevant shipping documents and invoices and finalize the payment.
Foreign Exchange Services
We offer trade foreign exchange services to businesses of all sizes, including wire transfers, drafts and currency exchange. We also provide spot contracts in most of the common currencies to enable buying or selling currency at the current market exchange rate.
Pre-Export Working Capital Finance
If your business needs funds to purchase or produce a product prior to export, Bremer Bank offers a number of loan options. The loan funds can be used to finance production, and pay for Department of Commerce (DOC) Gold Key services, small working capital needs or small plant expansions.
Our loans are backed by U.S. government-guaranteed financing programs, which allow us to offer reasonable fees and advance rates at a competitive interest rate.
|Loan type||Idea for||Restrictions|
|Loan typeSmall Business Administration (SBA)||Idea for Exporters meeting SBA guidelines and requiring credit lines up to $5 million||Restrictions No U.S. content requirements or military restrictions|
|Loan typeExport-Import Bank of the U.S.||Idea for Exporters of all sizes, businesses requiring a credit line over $5 million||Restrictions Must adhere to Ex-Im’s requirements for content and non-military uses and Country Limitation Schedule|
Trade Credit Insurance
Protect your business against the risk of non-payment
We understand you need to offer competitive payment and financing terms to overseas buyers while minimizing the risks to your company.
By insuring your foreign accounts receivable, not only can you expand your international sales, you can also mitigate potential risk of non-payment of your entire export portfolio or a particular buyer.
Export credit insurance not only allows you to extend various payment terms, but also covers non-payment for 95 percent of commercial and political risks and turns those export accounts receivable into eligible collateral for your borrowing needs. Whether you need to decrease your risks, expand your borrowing capacity or offer financing to foreign buyers, Bremer Bank offers the appropriate products and structure to meet your needs.
|Type||How it works||Benefits|
|TypeExport-Import Bank of the U.S.||How it works Offers exporters single-buyer and multi-buyer policies to cover foreign sales on various payment terms generally up to 180 days||Benefits When combined with other products, may limit your exposure to default; talk to us for details. If selling U.S.-made capital equipment to foreign buyers, receive cash terms shortly after shipment while providing foreign buyers repayment terms up to five years.|
|TypePrivate Sector Insurers||How it works Offers short-term “spread of risk” policies for key accounts or all clients, usually on open terms of 60 to 90 days||Benefits Can combine foreign and domestic accounts receivable under a policy to further enhance your borrowing base|