Tradewind Provides $1 Million Trade Finance Facility to Sweater Manufacturer Based in Bangladesh
Tradewind has funded a sweater manufacturer based in Bangladesh with a $1 million credit facility. The facility has equipped the company to accommodate any new requests for open account payment terms from its buyers, when it had previously only dealt with transactions through letters of credit at sight. The company exports to Europe, the US, Brazil and Greece.
After receiving a recommendation to consider Tradewind because of their international capabilities and tailor-made financing solutions, the client turned to the financial organization in search of additional liquidity. It did not have any past experience working with buyers under open account payment terms, and was unsure how to support this new type of transaction.
Tradewind availed its services to the manufacturer and supplied the cash flow needed to offset the new, longer 60-day open account payment terms agreed on with one of its customers. It structured the facility in US dollars and also provided credit protection and collection services.
As open account terms are gaining popularity, the security of liquidity from Tradewind will allow the exporter to continue taking on orders under O/A terms.
“Tradewind understands that flexibility is a key factor in staying competitive in the global marketplace. Flexibility is a hallmark of our own services, and we are pleased to assist our client with custom cash flow solutions that will enable it to support different payment cycles,” states Soheil Zali, Managing Director of the the Tradewind Bangladesh office.
Tradewind maintains a network of offices all over the world, including Bangladesh, Bulgaria, China, Hong Kong, 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.