Ship4wd Facilitates Global Supply Chain Flow for Small and Medium-Sized Businesses with $3M of Credit Utilized by Customers in the First Month of New Financing Solution
Reaching this new milestone underscores the value of Ship4wd's new financial solution as it opens additional avenues of global trade and improves cash flow for underserved importers and exporters with a new source of capital
NEW YORK, Sept. 12, 2023 /PRNewswire/ -- Ship4wd, a leading global digital freight forwarding solution platform, celebrates a new milestone in its journey to disrupt the status quo within the international shipping and logistics sector while supporting small and medium-sized businesses (SMBs). Ship4wd is proud to announce that the company's customers were provided with over US$3 million in credit lines during the inaugural month of its financing solution's launch, providing direct funding access to SMBs to pay for shipments up to 90 days from the cargo delivery date, so they can better compete and succeed in today's challenging global economic situation.
Debuted in June 2023, this vital credit line service1, combined with Ship4wd's recently introduced 'Buy Now, Pay Later' offer, opens essential avenues for importers and exporters to enhance cash flow and combat the significant supply chain and financial frictions hindering business growth.
Amidst a fluctuating economic environment causing the amount of loans being given to SMBs to decrease while their interest rates increase2, traditional financing opportunities continue to diminish for these enterprises, impacting their ability to have the necessary cash flow to succeed and thrive. In response to this challenge, Ship4wd's credit services have provided flexible capital to SMBs at various growth stages of their lifecycle, enabling them to unlock both cross-border importing and exporting opportunities for their business. The loan sizes have included microloans of less than US$5,000 to loans of more than US$100,000.
"SMBs are the backbone of the global economy, and we're proud to provide US$3 million in credit lines in the first few weeks following the launch of our financial offering," said Carmit Glik, CEO of Ship4wd. "Our online credit line service provides a launching pad to support SMBs as they tap into the global supply chain so that they can successfully operationalize and manage their shipments more effectively, aiding them in meeting their businesses demands and deadlines of their customers."
Ship4wd's one-stop-shop platform provides international shipping solutions for SMBs to manage their imports and exports. With only a few clicks, SMBs can easily view and compare a range of fully detailed and transparent shipping quotes, book their shipments, secure container allocation for door-to-door or port-to-port delivery, and track shipment status over the platform's dashboard. Ship4wd's team of experts provides 24/7 customer support, enabling SMBs to clarify any doubts they might have while having 100% visibility of the shipping process over the platform's dashboard.
Ship4wd was founded by ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), a market leader in global shipping with nearly 8 decades of industry experience and a reputation for industry-leading reliability and excellence.Ship4wd is committed to the highest standards, registered by the U.S. Federal Maritime Commission (FMC), and reported zero cargo loss in 2022.
For more information, please visit www.ship4wd.com.
About Ship4wd
Ship4wd is a best-in-class digital-first freight solution that gives small businesses the personal freedom, ease and transparency to better manage their imports and exports. With full end-to-end visibility and built-in flexibility, Ship4wd is helping businesses to progress and thrive.
1 Offered in collaboration with Ship4wd's business partner 40Seas.
2 Credit Standards Tighten as Small Business C&I Lending Declines - Federal Reserve Bank of Kansas City
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SOURCE Ship4wd
