US-based Frozen Seafood Importer and Distributor Receives USD 1.5 Million in Trade Financing from Tradewind Finance
A Miami-based importer and distributor of frozen seafood received a USD 1.5 million credit facility from Tradewind Finance. With the facility, the company will support its domestic sales growth with large American customers.
The seafood importer, which primarily sells octopus, had started diversifying its product offerings by adding frozen tuna and salmon, and it needed a financial partner that could support its increased business other than the self-financing methods it already had in place. The company planned on continuing to grow, but wanted to make sure it did so cautiously.
Tradewind has a strong reputation as an alternative lender with expertise in the seafood industry and an understanding of the fish sector, according to the company. As a result of Tradewind's competitive rates, flexible financing, and international capabilities, the company found Tradewind to be the most suitable fit for its capital needs. Furthermore, the financial firm's provision of credit protection in the event of buyer insolvency, as well as its collection management, eased importer concerns about trade risk and made its business transactions more secure.
Tradewind provided the company with scalable funding that increases as sales grow, a feature that was crucial to expansion. Due to Tradewind's accelerated cash flow to the seafood company, it was able to make timely payments to its suppliers and take on more orders quickly and with confidence; these timely payments and the ability to process orders on demand shortened the company's sales cycle.
"The Tradewind team is pleased to have assisted our client in bringing more flexibility to their supplier relationships and delivering larger orders to larger buyers with our customized cash flow solutions. Tradewind looks forward to their success in the US market," Daniel Najman, Vice President of Sales at Tradewind's USA office, said.
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.