International Banking

If you haven't thought about expanding into the international market, perhaps you should. Over 80% of the world's markets are outside the US, and you don't have to be a megacorporation to do business overseas. The international market is vast and offers potential opportunites for companies of all sizes. At 1st Source, we can help your business tap that potential by putting our experience and expertise to work for you. And with the only local international banking division in the Michiana area, you'll get the individualised personal service the big national banks can't offer.

Whether you're just entering the international market or are already established overseas, 1st Source has you covered every step of the way.

• Getting Started
  Looking to expand abroad? Let us do a thorough assessment of your company's readiness. Then let us help you get started with market analysis, trade information, agent or distributor contacts and assistance with documentary requirements.
  
  
• Trade Services
  How about a competitive edge in overseas sales? The right capital and insurance can make all the difference. Our guaranteed working capital allows you to move ahead on overseas opportunities by providing you with the cash you need to prepare your product for shipment. Our export credit insurance covers your risks in what can be a volatile market by protecting your receivables against commerical and political losses. In short, 1st Source enables you to offer terms to your international customers to save them money and give you a competitive sales edge in foreign markets.
  
  
• Currency Issues
  Doing business abroad means currency exchanges and money transfers. 1st Source can help with our full line of foreign exchange capabilities, from wire transfers and foreign drafts to protection against the negative impact of rate fluctuations on your currency exchanges.
  
  
• Import/Export
  Import/Export compliance can be a complicated business. Rules and regulations change almost daily. 1st Source keeps you on top of these changes. Our Import Letters of Credit will open doors for you overseas, enabling you to business with suppliers and buyers. Our Export Letters ensure payment to you by your buyers and allow you to offer them terms. Letters of Credit can even act as bids or performance guarantees, which are sometimes required by foreign governments.