UPS Capital launches supply chain finance offering

Filed in archive News on September 11, 2008

Taking steps to aid small shippers finance trade transactions with international suppliers, UPS Capital, the financial services arm of UPS, has rolled out a new offering entitled UPS Capital Cargo Finance, Logistics Management reported.

The objective of this new offering, according to Chris Vukas, senior managing director of global supply chain finance for UPS Capital, and Bob Bernabucci, president of UPS Capital, is to help US importers to more efficiently finance trade transactions with international suppliers.

Addressing more than 100 attendees at a Webcast held earlier today, the UPS Capital executives explained that UPS Capital Cargo Finance enables US importers to use their in-transit UPS shipments as collateral for loans. UPS has been piloting it for more than a year with several US importers.

UPS Capital Cargo Finance is designed for US importers with annual revenues up to $50 million that typically import anywhere from 1-10 ocean or air containers each month.