Tradewind Finance Provides Export Factoring Facility to Hong Kong Toy Trader
Tradewind Finance has closed a USD 550,000 export factoring facility for a toy trading company based in Hong Kong. The funding will be used to support the company’s sales conducted on 75-day open account terms to Europe and North America.
The Hong Kong company specializes in the design and production of foldable toys for babies and pets. As their products save space and offer convenience, they have received recognition from customers both at home and abroad. With such popularity, the company’s sales volume has climbed each year.
The sudden outbreak of the pandemic, however, battered the company’s business, and they faced cash flow tension due to the tightening of credit from banks. Confronted with multiple challenges, the company turned to Tradewind’s non-recourse factoring solution, which does not require collateral.
Tradewind Finance formulated a tailored financing plan for the company with a quick turnaround. Not only did the funding from Tradewind supplement the operating capital of the company, which enabled faster payment to and smoother business relations with their suppliers, but it also allowed the company to take on more orders.
“Our client chose Tradewind as their funding partner due to our customized and flexible services with competitive terms and conditions. Moreover, Tradewind’s facility is scalable, which enables our client to receive funding as sales grow,” said Dickson Au, Regional Sales Director at Tradewind’s Hong Kong office.
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 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.