Tradewind Provides $1.5 Million Export Factoring Facility to Sport Textile Manufacturer in India
Tradewind, a global commercial finance company that specializes in international non-recourse factoring, has provided a $1.5 million export account receivable facility to an cutting-edge apparel manufacturer. The client, recognized for its high level of quality standards in the textile industry with capabilities from fiber to fabric, assembles and exports a wide range of readymade garments for mainstream brands such as Adidas, Reebok and Hummel. The company is based in India and has current revenue of $25 million.
With this new facility in place, the sportswear manufacturer will benefit from accelerated cash flow and will be able to fill its rapidly increasing orders of high performance apparel and support additional sales on open account terms to European markets.
“We are excited to announce a new client in the textile industry with such a tremendous potential for international growth,” states Ankit Goel, Managing Director of Tradewind Intelligent Trade Finance Limited, UAE and India Operations. “Our non-recourse factoring product has been a great asset to the entire Indian manufacturing community and we look forward to exploring more opportunities in the textile and apparel sector.”
The Tradewind Group maintains a network of offices and affiliates all over the world, including USA, Germany, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, UK, Spain, Bulgaria, Hungary as well as its headquarters in Germany. Combining credit protection, collections, and financing into a single suite of trade finance products, Tradewind brings streamlined, flexible and best-in-class services to the world's exporters.