Tradewind Announces USD 5.5 Million Facility for Towel Manufacturer in Gujarat, India
After searching for over two years for a lender that could help them overcome the challenges of modern global trade – including labor shortages, increased shipping costs, and the extreme swings of supply and demand – a towel manufacturer based in Gujarat, India was introduced to Tradewind Finance, who was just the financial partner they were looking for.
Tradewind recently provided USD 5.5 million in funding for the company, which specializes in all sorts of cotton towels for the bath, beach and kitchen. Patterned or plain, and designed with antiviral fabrics for good health measure, the towels are sold to big-name retailers in the USA, UK, Australia, New Zealand, Hong Kong, and Singapore.
It was Tradewind’s global presence and international capabilities that won the client over. Supplying to multiple household names around the world, the company felt reassured knowing that Tradewind could reduce the risks of cross-border trade by offering credit protection and collections services to them. Tradewind already had working relationships with many of their buyers, which was also a source of comfort for the company.
As a centerpiece of the financing arrangement, Tradewind was able to close the cash flow gap for the client under the extended payment terms they negotiated with their buyers. In this vein, waiting for payment was no longer necessary.
“Scalable funding, an understanding of the home textiles industry and our global toolkit enabled us to answer our client’s unique financial needs. We are happy to see our client in a position to increase their turnover using our cash flow solutions and continue to land on the shelves of well-known retailers,” Soheil Zali, Regional Commercial Director and Board of Director at Tradewind Middle East Limited, commented.
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.