United World Enterprises is a commodity trader specialising in facilitating agribusiness exports, and has recently moved into cottonseed exports on the back of strong demand from China.
The company acts as a selling agent between Australian suppliers and buyers in China, which is currently the world’s largest market for Australian cottonseed.
UWE had identified new buyers and suppliers, and needed working capital to offer more flexible payment terms.
We supplied UWE with a A$3 million revolving export working capital guarantee (EWCG) through the company’s bank, ANZ.
An EWCG supports working capital needs for contracts and can help a company’s future export growth plans.
As a result, UWE was able to pursue larger contracts and ship larger amounts of cottonseed to more buyers.
“This deal with UWE underlines our support for Australian company growth and, in particular, our commitment to local agribusiness companies,” said Efic’s Andrew Watson.
UWE’s bank is now able to provide the working capital that UWE needs without our guarantee, again highlighting our ‘market gap’ role in supporting eligible SME exporters when their bank can’t help.