Tradewind Closes USD 4 Million Receivables Finance Facility for Bangladeshi Ready-made Garments Manufacturer
Tradewind Finance is pleased to announce it has sanctioned a USD 4 Million facility to a leading Bangladeshi ready-made garments manufacturer. The group, headquartered in Dhaka, represents over 40 business enterprises across Bangladesh and employs over 21,000 employees. Their primary offerings include a variety of woven products sold to renowned international retailers situated in the EU and US.
The company, originally selling on immediate payment terms, explored a variety of financing options before choosing to work with Tradewind. The receivables finance solution crafted by Tradewind suited the company’s requirements best as it would help the manufacturer to facilitate greater orders with added credit protection against potential buyer non-payment, and churn more orders on credit terms up to 90 days without negatively affecting their cash cycle.
Such a practical trade-based facility allows for the client to avail financing without needing to tie-up their assets as collateral. The company can safely and securely fund their own growth by tapping into their receivables which would otherwise be paid at the invoice maturity date agreed upon by the buyers.
Md. Rashedul Hasan, Assistant Vice President – Bangladesh Commercial, commented: “Tradewind serves as the bridge between the client and buyers, facilitating liquidity expectations on both legs of the transaction. We are delighted to be able to quickly and effectively provide financing on flexible and feasible terms, in line with the company’s business requirements. ”
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 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.