Tradewind Finance Announces USD 7 Million Receivables Finance Program for Dhaka-based Ready-made Apparel Manufacturer
Tradewind has closed a USD 7 million receivables finance program for an apparel manufacturer with operations in Bangladesh and the United Kingdom.
Brick-and-mortar retail stores faced immense challenges during the coronavirus outbreak. The Dhaka-based supplier, also catering to online fashion retailers, witnessed an uptick in order volumes in this sector since the start of the pandemic. They required a trade financer to provide the right credit protection and financing support to cater to increased demand, especially since the orders received involved payments on open-account terms.
The supplier engaged with Tradewind to alleviate payment obligations to their own vendors who required payment at sight.
“The facility provided our client with the liquidity it needed to take on higher order volumes with select buyers in the online retail business. The client’s ability to sustain key performance metrics despite the ongoing pandemic demonstrates Tradewind’s commitment to strengthening the entire supply chain, allowing both buyers and vendors to benefit.’’ – Abu Bakker, VP Sales of Tradewind Bangladesh
Tradewind Finance, headquartered in Germany, maintains a seasoned workforce of over 170 employees and a global network of offices, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and the USA.
Since its inception 20 years ago, Tradewind Finance has contributed to driving global trade by providing practical, trade-based liquidity management solutions to small and medium enterprises.