Garment Trader in Bangladesh Secures USD 6 Million in Funding from Tradewind Finance
Tradewind Finance has closed a USD 6 million credit facility for a Bangladeshi ready-made garments trading company that sells to well-known retailers in the UK, Europe, and the USA. The funding has enabled the Dhaka-based company to cater to the asks of stores and suppliers alike while outfitting it with the liquidity needed for robust growth.
When the apparel purveyor began to experience an increase in business, it knew additional capital was imperative to keep up with orders. Furthermore, it was caught in a cash flow cycle in which retailers deferred payment, while it was still tasked with paying its multiple suppliers upfront, leaving it drained of cash.
To settle the mismatch in doling out payment and receiving it, the company turned to Tradewind Finance for support in accelerating its cash flow. With Tradewind as its lending partner, the trader was able to release the capital from its invoices quickly, replenishing it with liquidity to pay its vendors on-time, keep open account payment terms with buyers, and sustain growth.
“We are delighted that our financing solution proved to be the right fit for our client, so they could fulfill a high volume of orders without added cash flow pressures. Additionally, the success of our partnership is a prime example of how Tradewind’s financial services can help improve relations across the entire supply chain,” Soheil Zali, Regional Commercial Director and Board of Director at Tradewind Middle East Limited, said.
Because of Tradewind’s scalable facilities where funding can be increased in line with a rise in sales, the client has upheld a trajectory of remarkable growth.
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.