1998Begins offering traditional commercial finance products.
UPS Capital was born from an idea in the late 1990s to create a financial services division within UPS®. Read more
Given the leadership of UPS in transportation and global commerce, segueing into the flow of funds seemed natural.
UPS Capital at first leveraged an existing UPS product, i.e., collect on delivery (C.O.D.), as its core service offering. But it was not long before the traditional C.O.D. model was improved with financial benefits designed to help accelerate and secure the flow of funds between UPS shippers and their customers. The success of these enhancements led to other financial products and services, including asset-based lending (ABL), equipment leasing, domestic and international factoring, UPS Capital-branded credit card for small businesses and employees and electronic bill presentation and payment, which still serve UPS customers today.
Also at this time, UPS Capital began opening offices in the United Kingdom, Taiwan, Hong Kong, and Norway to build an international network that supports customers’ trade finance needs.
2000Shifts focus to risk mitigation and financing.
In 2000, UPS Capital expanded insurance agency licensing to all 50 American states to help transform the company’s direction to focus on risk mitigation solutions. Read more
At the beginning, flexible parcel insurance was offered as an alternative to existing carrier liability programmes, but is now one of our customers’ most valued solutions.
In 2001, First International Bank (FIB) was acquired. Its leadership in government guaranteed loan programmes, including Small Business Administration and Export-Import Bank of the United States programmes, placed UPS Capital in an even better position to assist small- and medium-sized businesses with both domestic and international growth.
As UPS rapidly expanded its logistics services, UPS Capital halted new ABL and leasing originations to refocus its efforts on developing unique lending solutions in the U.S. for importers. UPS Capital Cargo Finance®, which offers short-term loans for in-transit inventory and global asset-based lending, a secured revolving credit facility which finances internationally warehoused goods as well as in-transit inventory, was introduced, while UPS Capital discontinued new SBA, USDA and Export Credit Agency loan originations.
2004Expands its portfolio.
UPS Capital further expanded its financial services offerings in 2004 to include UPS Capital Merchant Services, ideal for businesses seeking fast, secure and reliable payment processing solutions. Read more
The following year, UPS Capital added Cargo Insurance, as well as Trade Credit Insurance, Collections Services and other Trade Credit Protection services to mitigate the risks of global trade and offer competitive terms.
In 2011, UPS Capital relaunched its European and Asian presence by concentrating on risk mitigation solutions. Read more
It was at this time that UPS Capital opened an office in Germany. UPS Capital also leveraged existing relationships in Brazil to begin offering Cargo Insurance. In early 2012, employees of the former Representative Office for the Export Credit Agency lending business in Mexico were acquired and launched risk mitigation solutions in Mexico on behalf of UPS.
2015Acquires Parcel Pro.
In June of 2015, UPS Capital acquired Parcel Pro, a leading provider of insured transportation services to the jewelry, wristwatch and collectible industries. Read more
The acquisition enhanced UPS Capital’s supply chain risk mitigation capabilities, providing global logistics expertise and peace of mind to customers who ship high-value goods.
RecentServes over 22 countries or territories and growing.
Today, UPS Capital has developed innovative solutions that are facilitated through UPS, UPS Capital or other UPS affiliates in over 22 countries or territories. Read more
UPS Capital remains committed to helping customers grow their businesses while mitigating the risk of today’s complex supply chains.
Insurance coverage is underwritten by a Canadian licensed insurance company and issued through UPS Capital Canada Insurance Brokers, Limited (“UPS Capital Insurance Brokers”) – an indirect wholly-owned subsidiary of UPS Capital Corporation (“UPS Capital”). The insurance company and UPS Capital Insurance Brokers reserve the right to change or cancel the program at any time. Insurance coverage is governed by the terms and conditions, including the limitations and exclusions, set forth in the applicable insurance policy (the “Policy”). This information does not in any way alter or amend the terms or conditions, including the limitations or exclusions, of the Policy, and is intended only as a brief summary. Insurance coverage is not available in all jurisdictions. UPS Capital Insurance Brokers only issues policies of a single insurer in Canada, and receives commission on sales of insurance. An affiliate of UPS Capital Insurance Brokers reinsures a material portion of the risk insured by this insurance policy and the UPS Capital group therefore has a financial interest in the insurance program. You are not required to purchase insurance from UPS Capital Insurance Brokers and have the right to seek insurance elsewhere. In particular, your ability to ship using United Parcel Service Canada Ltd. or its affiliates is not conditional on your purchase of insurance from UPS Capital Insurance Brokers.