Tradewind Finance Provides $5 Million Receivables Financing for Mauritanian Clothing Company
DUBAI, UAE, May 4, 2022 /PRNewswire/ — Tradewind Finance recently provided receivables financing of 5 million US dollars to a garment manufacturer from Mauritius. A diversified company with 1,200 employees, it specializes in manufacturing and finishing denim products for distribution to leading retailers worldwide, including Australia and Europe.
The company carries out everything from sample preparation to cutting, embroidery, stitching, printing, and washing in-house. With over 30 years of experience in the apparel and textile industry, it constantly evolves to keep pace with cyclical changes. The company has recovered from the lull brought about by the pandemic to expand its exports and cater to larger buyer requirements with a positive projection for sales, as retail has improved substantially in their target markets.
An intermediary approached Tradewind with the company’s financing requirements, and they were able to secure funding. Nearly all of the company’s receivables were in EUR and USD currency, with a 90-to-120-day open account billing term, which is a Tradewind Finance specialty. Previously self-financed, the receivables finance program offered to the company would enable it to accelerate its cash inflows and, by outsourcing accounts receivable management, more effectively focus on expanding its product offerings and core sales activities.
Soheil Zali, Regional Commercial Director of Tradewind Asia, talked about Tradewind’s role in servicing both clients and buyers with its longer payment terms. “It is a pleasure for us to be able to deliver the liquidity our new client in Mauritius needs to achieve their goals. Providing our client with an open account facility without a collateral requirement will allow them to focus on their core business with no worries about working capital and risk.”
Tradewind Finance is one of the leading international trade finance companies today, specializing in supply chain financing and export factoring. Tradewind maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, USA, and 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.
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Tradewind Finance
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https://www.tradewindfinance.com/
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