Tradewind has announced the closing of a $500,000 export finance facility for a reputable consumer electronics trading company based in the United Arab Emirates that sells products such as cameras, mobile phones, and accessories to retailers including Amazon-owned Souq.com in Dubai and Carrefour in Saudi Arabia. The added cash flow has allowed the client to fill its working capital requirement, meet its higher volume of orders, support its increasing sales on open account payment terms, and expand into new product categories outside of electronics.
The client was seeking a new source of funding after the banks had pulled credit lines from them a few years ago. With an office location in Dubai, Tradewind proved to be the most suitable financial partner because of its flexible parameters for financing and tailored deal structures. It was able to accelerate cash flow readily so that the electronics company could focus on growing its business. Additionally, because of Tradewind’s relationship with Souq.com, one of the client’s buyers, the client enjoyed a more streamlined funding process.
“ Tradewind is pleased to serve as a reliable source of financing for companies like this who have trouble securing funding from traditional lenders. With Tradewind’s international capabilities and tailored cash flow solutions, our client is not only able to grow its core business but it is also positioned to expand into new product categories,” states Ankit Goel, Managing Director for UAE and India.
The Tradewind group provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivaled reputation for the depth of its international finance expertise by maintaining a network of offices and affiliates around the world including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany. Combining financing, credit protection, and collections into a single trade finance facility, Tradewind offers streamlined, flexible and best-in-class services.