Tradewind Finance has provided a USD 1 million facility for a US-based importer that sources crab products from Tunisia. By selling items like frozen ready-to-cook blue crab and gourmet canned crab meat to large seafood establishments in the United States, the company serves as a link connecting the shores of Africa to American palates.
Newly founded within the past few years, the company wished to generate more business from larger buyers stateside. To do that, it required additional cash flow so it could offer these so-called “bigger fish” greater flexibility on when payment was due for their purchases. The receivables-based funding from Tradewind gave seafood buyers the freedom to pay up to two months after invoices were issued.
“As is the case with any young company, cash flow is always the main challenge and by coming on-board with Tradewind they were able to turn around their receivables within 24 hours so they could pay suppliers quicker and grow the business more efficiently,” Kevin Gillespie, Vice President – Sales at Tradewind’s USA branch, said.
Known for its international footprint and cross-border trade finance capabilities, Tradewind was well-equipped to support the overseas supply structure.
Buying at fair trade prices, the importer works directly with African fisherman and prioritizes their economic well-being. It has supplied thousands of crab cages, free of cost, to fisherman so they could increase their catch and earn more money.
Not only is the brand socially conscious, it also cares about the health of the oceans. For each packaged product, a barcode traces the origin of the crab, including when it was caught and by what boat, in order to curb illegal fishing.
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.