Tradewind Announces $5 Million Credit Facility for Garment Manufacturer based in South Korea
Tradewind Bangladesh has provided a $5 million post shipment finance facility to a garment manufacturer based in South Korea. The company, who has factories in Ethiopia, sells to buyers in the US and Europe and is using the facility to meet its working capital requirements, accommodate its increasing sales on open account terms and expand its business.
After being introduced to Tradewind by one of its clients and receiving positive feedback about the company, the garment producer turned to the finance firm to help it cope with the changes in international payment terms in the export-import industry. Tradewind advanced cash to the manufacturer, allowing it to support 30-day open account terms with its customer and bridging the liquidity gap until it received payment from them. Additionally, Tradewind offered 100% credit risk protection and collection services as part of its trade finance package.
“We are happy to help our client adapt to the increasing demand of open account terms in the global trade market. With our tailored cash flow solutions and international capabilities, our client can better continue to pursue a trajectory of growth and expansion,” states Soheil Zali, Managing Director of Tradewind Bangladesh.
Tradewind (formerly DS-Concept) 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 around the world including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany. Combining financing, credit protection, and collections into a single trade finance facility, Tradewind offers streamlined, flexible and best-in-class services.