DS-Concept Provides Factoring Facility for Expanding Garment Trading Company in Hong Kong
DS-Concept has provided a $1.5 million factoring facility to a garment trading company that specializes in sourcing solutions for its global customers. The company, headquartered in Shanghai with an office in Hong Kong, mainly exports to Europe and is using the facility to accelerate cash flow, which will enable it to broker new relationships with larger brands.
In developing its business, the client was experiencing a liquidity crunch. Its suppliers required a full payment at shipment whereas its customers were shipping at DDP incoterms, creating a turnaround time that could be more than 90 days. Additionally, the company had difficulty satisfying the requirements of the local banks because its Hong Kong entity was newly established and had limited assets. The client chose DS-Concept because of its international network and its ability to provide the cash flow needed.
“DS-Concept was able to step in as the preferred partner for the client’s newly opened satellite location. We were able to provide financing to its new entity when local banks would not, and we hope that this facility will help our client grow fast and achieve its far-reaching goals,” says Vicky NG, Business Development Manager at DS-Concept’s Hong Kong office.
The DS-Concept group provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivaled reputation for the depth of its international finance expertise by maintaining a network of offices and affiliates around the world including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, UK, Spain, Bulgaria, Hungary, Peru and its headquarters in Germany. Combining financing, credit protection, and collections into a single trade finance facility, DS-Concept offers streamlined, flexible and best-in-class services.