The only requirement is documentation of non-resident status. General Financing Availability Spanish importers generally obtain financing from commercial banks. Commercial bills and other trade instruments are generally discounted under an overall credit line agreed upon by the bank and its client. Local companies that wish to raise their discount ceilings can normally do so by opening term or savings accounts equal to 5-20 percent of their drawings. Opening irrevocable letters of credit is a straightforward process in Spain.
Importers can also insure exchange risk at their banks.
A range of financial organizations exist to assist American exporters. They include commercial banks and such private financial sources as factoring, forfeiting, and confirming services. Government programs are also available to assist the U.S. exporter. Several federal, state, and local government agencies offer many types of programs. Some are guarantee programs that require the participation of an approved lender.