DS-Concept Provides $5 Million Trade Finance Facility to Indian Textile Titan
DS-Concept has funded an Indian textile titan with an export factoring facility in the amount of USD $5 million. The company, a manufacturer and exporter of ready-made garments including knits, woven goods, leather and accessories, mainly ships to the US and Europe, selling to big-name buyers such as Ann Taylor, Guess, and Sainsbury’s.
The client came to DS-Concept with the goal of expanding its business, and required accelerated cash flow to do so. While the company's funding sources were limited and carried high interest rates, DS-Concept offered competitive pricing to finance its open account 60-day payment terms with its buyers. DS-Concept was able to provide off-balance sheet funding, which helped bridge the working capital requirement gap.
The company is already taking additional orders from their buyers and as they expand, DS-Concept will scale its funding in line with sales, an asset unavailable with traditional banks.
“We are pleased to announce the onboarding of an industry-leading client in India’s textile sector,” says Ankit Goel, Managing Director of DS-Concept Intelligent Trade Finance Limited, UAE and India Operation. “The appeal of our non-recourse product within the Indian manufacturing community is promising and we look forward to tapping further potential in this segment.’’
DS-Concept is an international trade finance group headquartered in Germany with 16 global offices. DS-Concept works with SMEs worldwide to provide non-recourse factoring and supply chain financing. With over 150 employees located in 15 countries, speaking over 15 languages, our staff offers world class customer service and truly understands global trade.