Tradewind sanctions USD 5.5 million facility to Stainless Steel manufacturer in Delhi, India
Tradewind is pleased to announce it has sanctioned a facility of USD 5.5 million to a stainless steel products manufacturer based in Delhi. To increase trade between the Indian company and its foreign buyers, the USD 5.5 million revolving facility will be used to increase stainless steel production with the intent of exporting the finished goods to the United States of America, the United Kingdom, Singapore, and Germany.
The manufacturer specializes in a broad range of stainless steel products such as pet feeders, apparel, accessories, beddings, kitchenware, and tableware. The new financing will facilitate the expansion of the company’s current manufacturing facility and will be also be used towards supporting their daily operational requirements. The company, faced with a cash shortage for its critical needs, found Tradewind’s flexible financing to be effective at fulfilling its working capital requirements. As the company adds more buyers for financing, the facility line will grow, allowing the company to extend credit and stay ahead of the competition.
Pulkit Kapil, Senior Vice President Business Development – Tradewind GmbH India Liaison Office, commented: “India is a fast-growing country where companies rely mostly upon conventional banking channels to fulfill their funding requirement. However banks are not able to meet this huge credit demand, which leaves a gap between demand and supply of funds. Tradewind bridges this gap and provides immediate liquidity on shipment of goods at competitive rates.”
About Tradewind Finance
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.