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 is an international trade finance group headquartered in Germany with more than 20 offices globally. Tradewind works with SMEs worldwide to provide non-recourse factoring and supply chain financing. With over 150 employees located in 15 countries, speaking over 15 languages, our staff offers world class customer service and truly understands global trade.