Tradewind Finance Provides Export Factoring Facility for Automobile Parts Trader in China
Tradewind Finance has closed a USD 600,000 export factoring facility for an automobile parts trader based in Shandong, China. The funding has enabled the company to accelerate cash flow and expand its market reach in the USA and Canada.
The company offers a wide range of products in the global market, with its annual exports reaching USD 3 million. However, when more and more buyers requested longer payment terms, the trader found it was a challenge to generate capital quickly on its own as accounts receivables began to pile up. Caught in a financial conundrum, the company had trouble expanding its business to meet the requirements of more qualified buyers across the world.
To improve its working capital for taking on larger orders, the client approached Tradewind from a friend’s introduction. Tradewind’s timely tailor-made trade finance solution ensured the trader had stable access to scalable funding for further expansion. The credit protection provided by Tradewind, ensuring that the client would get paid in the case of buyer insolvency, also eased the client’s concerns about international trade. Furthermore, with the facility in place, the company was able to support open account terms of 60 to 90 days for overseas buyers.
"Tradewind’s flexible funding solution and strong global network are what caught our client’s attention. With Tradewind’s help, our client was able to accept more open account orders and improve their competitiveness in the industry. It’s a great pleasure to contribute to their growth," said Dickson Au, Regional Commercial Director – Far East, at Tradewind Hong Kong.
About Tradewind Finance
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Peru, Turkey, UAE, and the USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single suite of trade finance products, Tradewind brings streamlined, flexible, and best-in-class services to the world’s exporters and importers.