Tradewind Finance has provided a USD 8 Million receivables finance facility to a US-based garment wholesaler to support its future growth plans.
The company, involved in the wholesale trade of a variety of garment styles and specifications, exports largely to well-known customers, all of whom are also based across the United States. The factoring facility includes 120-day payment terms to cater to the credit requirements of larger retailers, many of whom require lengthier payment terms.
The funding will allow the company to monetize on its outstanding receivables to pay for day-to-day operations requirements and to facilitate growth opportunities over the coming months.
With an increase in insolvencies during the past last year, Tradewind’s credit-insured offerings allow the company to navigate through trade uncertainties and conduct business with peace of mind. The company is better-placed to focus on its core sales activities – allowing for them to increase their buyer base with both Tradewind’s experience and network, as well as financing.
John Stillwaggon, CEO Americas at Tradewind said: “We were happy to support our client with a significant receivables finance package to support their sales ambitions. With the additional capital availability, the company can fuel its growth goals to expand its footprint and remain competitive.”
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, 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.