No banks would love to provide a loan to startups.
So it's better to have a good tie up with MFG Units and Supplier & procure goods from them on Credit.
However, as we grow Pre-Shipment & Post-Shipment facilities from the bank would be useful finance would be useful
Pre Shipment = Finance procure before loading the goods into the vessel
Post Shipment Finance = Finance procured after the goods loaded into the vessel
Pre Shipment finance is very difficult for startups. Post Shipment Finance is comparatively easy.
Loan against LC Draft / Packing Credit (Pre Shipment Finance) & Bill Discounting (Post Shipment Finance; we get our money as soon as we deposit all original docs in bank required by buyer ) Facilities we can get it from the bank.
You should visit bank forex manager to open an current account in the bank and ask to them on above and below-given points.
1. EEFC Account merging with current account
Exchange Earners' foreign currency account (EEFC) is an account maintained in foreign currency with an authorised dealer i.e. a bank dealing in foreign exchange. No interest is payable on EEFC accounts. Up to 100% foreign exchange earnings can be credited to the EEFC account & can be kept in foreign currency and could be converted at the convenient time of exporter into INR.
2. Documentation Charges (If we send docs via a bank in case of DP/DA/LC Payment Terms)
Every bank charges the cost for the documentation if needed to be routed via bank & payment transfer & conversion charge in case of DP/DA/LC Payment terms.
3. Forward Contract (Hedging against currency fluctuation)
A binding contract in the foreign exchange market that locks in the exchange rate for the purchase or sale of a currency on a future date. A currency forward is essentially a hedging tool that does not involve any upfront payment.
Case Study In Hindi: https://www.youtube.com/watch?v=g44oaUGKtgk [Private Link, Only members can get access]
4. Bank Verification for Export-Import Business.
One can easily do Export Import Business from home but many time some bank doesn't allow there account holders to operate the Exim business via home, so it's better to clarify before account opening.