Tradewind Closes Post Shipment Finance Facility for U.S. Subsidiary of German Sensor Manufacturer
Tradewind has provided a $1 million post shipment finance facility to a manufacturer of sensory technology headquartered in Germany. Tradewind funded the US subsidiary who is using the facility to alleviate financial pressure on the parent company so it can invest in R&D and boost production. The company sells to Europe, the US, and across East Asia.
The manufacturer decided to pursue financing as it began to grow and cash flow became tight. Products are made in Europe, shipped abroad to their US and Singapore distribution centers, and then sold on open account terms. The long cash cycle made it difficult for the company to increase production and execute higher business goals, so it turned to Tradewind for assistance.
“We are pleased to support the growth that our client is currently experiencing. As a manufacturer on the cutting edge of sensor technology, with applications in the IOT (internet of things) and automobile sensors, our client is poised for significant ramp up. Our financial support will allow our client to simultaneously invest in further R&D needed to stay at the forefront of the trend, as well as expand internationally into new markets in North America and East Asia, while always maintaining sufficient cash flow to keep up with their order book,” states John Stillwaggon, CEO of the USA Tradewind division.
Since the company and Tradewind share similar structures, namely Germany-based headquarters and subsidiary divisions in the US and other locations abroad, Tradewind understood the unique needs of the client and leveraged its international capabilities to tailor funding for them. Furthermore, the two entities worked together well because of their similar business cultures, which eased communications between them.
Tradewind maintains a network of offices and affiliates all over the world, including Bangladesh, Bulgaria, China, Hong Kong, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and 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.