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.

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