Tradewind Closes $1 Million AR Financing Facility for Medical Device Manufacturer in India
Tradewind has provided a $1 million export accounts receivable facility to a medical device manufacturer in India. The client, exporting surgical blades, is implementing this facility to support their rapid growth in the US, Europe and Asia. With the export factoring facility in place, the client anticipates an annual factored volume of $8MM-$10MM.
The client first approached Tradewind after experiencing the limitations of traditional financing in supporting their capital needs. While their bank line and other investments initially eased the pressure on their liquidity, the company was soon strapped for cash flow after their orders increased three-fold across different markets.
The client chose Tradewind as their preferred financial partner because of the firm’s international capabilities, customized financing arrangements and scalable funding that can increase as their medical device business grows. They were guided through a quick account setup process and received funding within 48 hours of invoice submission. Tradewind’s dedicated client service and fast funding turnaround provided peace of mind for the company and allowed them to focus their attention on their increasing orders.
By leveraging Tradewind’s factoring facility to finance their working capital needs, the company can now confidently accept a higher volume of orders and seek additional growth opportunities. Tradewind also offered credit protection for the client in the case of buyer insolvency, further empowering them to embrace their sales growth potential.
“We are excited to announce a new client in the medical device industry with such a tremendous opportunity for international growth,” states Ankit Goel, Managing Director of Tradewind India. “Our non-recourse factoring product has been a great asset to the entire Indian manufacturing community and we look forward to exploring more opportunities in the medical device sector.”
Tradewind maintains a network of offices and affiliates all over the world, including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Brazil, Hungary, Peru and its headquarters in Germany. Combining credit protection, collections, and financing into a single suite of trade finance products, Tradewind brings streamlined, flexible and best-in-class services to the world’s exporters.