Tradewind Finance Announces USD 1 Million Credit Facility for Industrial Equipment and Parts Importer and Wholesaler in UAE
Tradewind Finance has provided a USD 1 million domestic factoring facility to a specialized equipment importer and wholesaler based in the United Arab Emirates that caters locally to the construction, engineering, and oil and gas sectors.
During the last few years, the company experienced growth and sought opportunities to further scale their business. Due to the lack of financial support from their existing banks, however, they were not able to penetrate the market significantly. Tradewind, using their local market knowledge and expertise, was able to quickly identify the company’s sales potential and offered them a tailor-made receivable financing solution with competitive pricing.
The client expressed their satisfaction and delight with Tradewind’s credit facility that has positioned them to capitalize on business opportunities, and intends to work closely with Tradewind as their financial partner in order to accelerate cash flow as order volumes increase.
“Having the financial backing from Tradewind to support the company’s cash flow cycle was instrumental to our client, who was able to improve their top line with a reported growth of 20%, even during a pandemic-ridden year,” states Onaiz Saeed, Business Development Manager at Tradewind Middle East Limited.
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.