Tradewind Finance Announces USD 5 Million Export Factoring Facility for Paper Trader in China
Tradewind Finance has provided a USD 5 million export factoring facility for a paper trader based in China. The funding will be used to accelerate the company’s cash flow for raw material purchases and export to the United States.
The fast-growing trader, headquartered in the US, specializes in the domestic sourcing and production of paper and exports over USD 100 million per year. Though faced with global trade uncertainty related to COVID-19, the company performed well and has been stable financially. The company also began working with new buyers, which accelerated growth and ushered in the need for higher-level risk and cash flow management.
However, the company found it difficult to increase capital to meet the requirements of new orders. It also faced barriers in obtaining loans from banks because it had limited assets. Drawn to Tradewind’s reputation of providing flexible funding solutions and high standards of service, the company contacted the lender to support delivered duty paid terms of 30 days for its buyers. With a USD 5 million facility from Tradewind Finance, the company had the ability to improve working capital and take larger orders from additional new buyers.
Dickson Au, Regional Commercial Leader – Far East, at Tradewind Hong Kong, said: “We are delighted to apply Tradewind’s tailor-made export factoring services to this strongly growing company. With Tradewind’s scalable factoring facility and credit insurance coverage, the client is able to expand the business without fear of further uncertainty from global trade. We are ready to support the client’s expansion in the future.”
About Tradewind Finance
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, 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.