Tradewind Finance has closed a USD 350,000 credit facility for a leather handbag manufacturer based in India. The company exports their wares to Canada and the USA to stock the shelves of a retailer beloved for selling brand names at affordable prices.
The company specializes in bags for both men and women. Their line of fashionably-weathered totes is sustainably produced in an effort to minimize water waste and the use of non-biodegradable plastics. They maintain a fair working environment too, barring underage employment and empowering women from underprivileged backgrounds to join their talent force.
Managing cash flow was a sticky problem for the India-based manufacturer, given the sixty-day credit terms in place with their buyer. At the suggestion of a peer in the leather accessory business, the company secured additional capital by factoring their receivables with Tradewind.
“We are pleased that our financing solutions could accelerate cash flow for our client and are on-board to increase the facility size as their needs require,” Soheil Zali, Regional Commercial Director and Board of Director at Tradewind Middle East Limited, said.
Funding support, projected to grow to approximately USD 1 million by the year end, is going towards the company’s mission of improving the welfare of the community and the planet. With the cash flow to sustain extended payment terms, which are preferred by many large retailers, consumer-conscious shoppers will also continue to see these eco-friendly bags at the store.
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.