Tradewind Finance has announced the closing of a USD 5 million receivables program for a knitted yarns company in Turkey that exports to Canada and the United States. The added liquidity will equip the company to pursue new growth opportunities globally.
Established in 2019 before the onset of the pandemic, the company, whose shareholders have extensive experience in the textile sector, was looking for a lending partner who similarly understood the nature of their business and could offer a comprehensive working capital solution to ease the financial pressure on their operations. Tradewind stood out among other financing institutions for its deep knowledge of the textile industry, international capabilities, and extension of support from their trade finance experts in its Turkey office. As their preferred lender, Tradewind provided the company with funding, credit protection, and collections services all in one package.
Through Tradewind’s financing that unlocks the capital tied to receivables, the yarn business received payment in advance before it was due from the buyer, allowing them to improve their cash flow management, avoid the effects of foreign exchange fluctuations, and focus on their strategic goals without the worry of insufficient capital.
“Tradewind is happy to leverage our expertise in trade finance and the Turkish textile market to help our client expand their business internationally. We look forward to working together on this promising new chapter for our client,” states Beyza Durdagi, Head of Sales for Tradewind Turkey.
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.