Northstar opens Europe JV to finance SMEs

Copying and distributing are prohibited without permission of the publisher

23 June 2009

Canada’s Northstar Trade Finance has launched a European-based joint venture with ODL and SNCI to provide trade finance solutions for SMEs.

Vancouver, Canada-headquartered Northstar Trade Finance, together with Office du Ducroire-Luxembourg (ODL) and Société Nationale de Crédit et d’Investissement, has launched Northstar Europe based in Luxembourg. The new entity will provide term trade finance solutions for European small and medium-sized enterprises engaged in international trade, as well as larger firms with small and medium sized transactions. The banking licence was granted as of 17 June.

Northstar Europe will structure buyer financing for foreign buyers of European goods for values up to Eu5 million, and for up to five-years per transaction. The company expects to fund transactions that, because of their size or term, would otherwise not have had funding generally available to them. The set-up is expected to fill a recognised gap in the financial markets, providing vendor finance for export sales.

Commenting on...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the latest news and analysis for two days (excluding some surveys and articles). Start your free trial today.