Tradewind provides USD 500,000 Receivables Finance Facility to leather gloves manufacturer based in Sialkot, Pakistan.
Tradewind is pleased to announce it has financed a leatherwear manufacturer in Pakistan. The USD 500,000 facility, is used to support the manufacturer’s exports to the US and France.
The manufacturer, based in the industrial city of Sialkot, designs and manufactures a variety of leather-based apparel used widely in the motorbike industry. The factory, nearly four decades in operations, produces more than 300,000 pairs of high-quality motorcycle gloves per year, making it one of the most sought-after suppliers in the region.
EU requirements for CE certifications resulted in queues for approvals. Reduced outdoor activities as a result of COVID-related restrictions coupled with increased competition from Chinese and Indian suppliers resulted in payment delays and order constraints. The manufacturers, faced with the urgency of identifying additional markets to make up for reduced orders, turned to Tradewind to expedite cash-generation from orders starting with credit terms of 60 days and to support with trade credit insurance for shipments made to existing and new international buyers.
Tradewind’s factoring offerings has allowed for the company to expedite their cash flows and allocate funds towards facility expansion and success.
Ms. Fatima Nissa, Senior Business Development Manager, Tradewind GmbH – Pakistan Liaison Office, said: “Tradewind commitment to the Pakistan market is demonstrated by our scaling up financing to the ever-dynamic and ambitious manufacturers and exporters situated in Sialkot. Our financing solution provides much-needed working capital to support the requirements of both the manufacturer as well as the importer, resulting in better business relationships.”
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 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.