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E-invoicing, SCF & E-procurement

Tradewind issues USD 5 mln credit facility for South Korean manufacturer

Thursday 3 January 2019 | 01:33 PM CET

Tradewind Bangladesh has provided a USD 5 million post shipment finance facility to a garment manufacturer based in South Korea.

The company, who has factories in Ethiopia, sells to buyers in the US and Europe and is using the facility to meet its working capital requirements, accommodate its increasing sales on open account terms and expand its business.

After being introduced to Tradewind by one of its clients and receiving positive feedback about the company, the garment producer turned to the finance firm to help it cope with the changes in international payment terms in the export-import industry. Tradewind advanced cash to the manufacturer, allowing it to support 30-day open account terms with its customer and bridging the liquidity gap until it received payment from them. Additionally, Tradewind offered 100% credit risk protection and collection services as part of its trade finance package.

Tradewind (formerly DS-Concept) provides international cash flow solutions, focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has a network of offices in the USA, MainlandChina, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany.

More: Link
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