Tradewind Finance Closes Credit Facility Structured in USD and Euro for Indian Chemicals Company
Tradewind Finance announced today it has funded a rapidly-growing chemicals company based in India that manufactures solutions and dyes intended for a variety of applications, including pharmaceuticals, food processing, and personal care products. The funding is being used for working capital purposes, including the purchase of raw materials.
After their previous lender abruptly stopped operations, the Mumbai-based manufacturer, which exports to the United States and Germany, needed a new financial partner who could deliver financing right away to avoid disruptions to their business. Given the steep competition of the chemicals industry, with its limited pool of buyers, the manufacturer required ample capital to continue to win business. Additional cash flow would afford the client flexibility in their negotiations with buyers, allow them to pay suppliers on-time, and help them invest in R&D for enhancements to their offerings, among other things.
The client received an export factoring facility structured in two currencies, USD and Euro, from Tradewind Finance, whose speed of execution readily equipped the client with approximately USD 800,000 in funding. The facility supports 60-90-day credit terms with the client’s buyers. With the facility in place, the chemicals producer was able to keep running business smoothly and strategically, despite the sudden fallout with their previous lender.
“Our client was looking for a short-term financing facility with an urgent turnaround. We are pleased that we were able to provide funding in a short span of time, which helped our client to sustain their business and appeal to new international buyers,” Soheil Zali, Regional Commercial Director and Board of Director at Tradewind Middle East Limited, said.
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.