Tradewind Finance has provided a $1 million post shipment finance facility to a leading automotive battery manufacturer based in Bangladesh that exports to other parts of Asia, the Middle East, Africa, Europe and the US. The credit facility will be used to help increase sales and support open account terms in high demand from overseas buyers.
The client chose Tradewind because of its non-recourse factoring, which provides credit insurance for the company’s foreign receivables. Additionally, Tradewind’s collections capabilities and the improved cash flow management that results from their implementation further helped it stand out as the preferred financial partner.
With the export factoring facility in place, the client anticipates an annual factored volume of $25MM – $30MM.
“We are pleased to announce the onboarding of an industry-leading client in Bangladesh. With the assistance of Tradewind, the client will be able to maximize growth with existing customers and capitalize on additional growth opportunities with prospective customers,” says Soheil Zali, Country Manager of Tradewind Bangladesh.
While Tradewind Bangladesh has its roots in the textile and garment sector and predominantly serves this industry, it is poised to branch out into other segments in manufacturing where there is a demand for liquidity, including frozen foods, leather and leather goods.
Tradewind maintains a network of offices and affiliates all over the world, including Bangladesh, Bulgaria, China, Hong Kong, Hungary, India, Pakistan, Peru, Turkey, UAE, and USA as well as its 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.
Tradewind is a member of the German Federal Financial Supervisory Authority (BaFin), Factors Chain International (FCI), the International Factoring Association (IFA), the Commercial Finance Association (CFA) and the Bangladesh German Chamber of Commerce and Industry (BGCCI), among other organizations.