Tradewind Announces Trade Finance Facility for Ready-made Garment Manufacturer and Exporter Based in India
Tradewind has provided a €1 million post shipment finance facility to a manufacturer and exporter of ready-made garments based in India. The company sells to Primark in the US, Ireland, UK, and Spain and is using Tradewind’s financing to meet its working capital requirement, keep up with production as orders come in, support increasing sales on open account terms, and explore potential growth opportunities. The facility is structured in two currencies, Euro and GPB.
Primark was already on Tradewind’s roster of buyers through its financing arrangements with other companies who also sell to the retailer. Because of Tradewind’s familiarity with Primark, combined with its flexibility, the entire funding process was easy for the client. Furthermore, Tradewind’s agility in funding in two currencies and its years of proven success servicing exporters in the apparel and textile industry made it the most suitable financial partner.
“We are pleased to onboard another client in the RMG sector in India who can use our fast funding to take on larger purchase orders and sustain a competitive edge in the industry. With nearly 20 years financing textile and apparel SMEs, we were happy to assist our client with the same expertise and international capabilities that have propelled other companies forward in this market,” states Ankit Goel, Managing Director of Tradewind India & UAE.
Tradewind 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.