DP World announces CARGOES Finance for SMEs

Uzbekistan has joined the World Logistics Passport, a private sector-led initiative designed to smooth the flow of global trade and improve market access.

DP World announced that it has launched CARGOES Finance, a new financing solution for small and medium-sized enterprises (SMEs). The platform looks to provide access to financing solutions to support small-to-medium businesses. The company hopes that the platform will be able to support SMEs in driving global expansion. CARGOES Finance is now available to shippers and small-to-medium businesses and is the latest addition to the CARGOES suite of tools to streamline end-to-end logistics and trade worldwide.

The company reported there are three key financial solutions available through CARGOES finance. These include:

  • Trade Finance – Accessing a variety of pre-shipment and post-shipment financing options for international cargo movement, along with extended payment terms.
  • Logistics Finance – Accessing financing options for domestic logistics movement, together with receivables and payables financing, and invoice factoring/discounting.
  • Inventory Finance – Utilising small-to-medium businesses’ inventory as collateral for financing their businesses, based on the value of stock in its warehouse.

DP World reported that the fintech platform compromises a simple and easy to use online application, requires minimal documentation and expedites quick approval decisions supported by intelligent systems. Senior Executive Officer Sinan Ozcan commented: “Globally, small-to-medium-sized businesses handle 50 percent of trade, yet only a few have access to funding with little chance of it being approved. CARGOES Finance is levelling the playing field, providing an affordable and reliable alternative that’s expanding global trade”.

The company reported it plans to continue investing in new technologies and solutions such as CARGOES Finance in the hopes of streamlining and optimising ‘glocal’ operations for ambitious businesses looking to operate seamlessly and scale faster.

Source: DP World 

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