Tradewind Finance Closes Export Factoring Facility for Garment Trading Company Based in Hong Kong
We are pleased to announce that Tradewind Finance has financed a garment trading company in Hong Kong. The USD 350,000 export factoring facility will be used to expand its export business to the United States.
The company, which sells a variety of clothing to well-known retailers across the world, has generally maintained a healthy financial position. Since overseas demand for garments was booming, the trader was able to work with a growing number of new foreign buyers and also saw orders rise rapidly. Although the company experienced an increase in business, it was strained to manage it and became cash-strapped after paying suppliers while expecting payment from buyers.
Moreover, it is mainly a trading company, which means it has limited assets, so securing bank financing, especially to fulfill its trade needs, proved challenging. Taking advantage of Tradewind’s tailor-made financial solutions, the trading company turned to Tradewind, which specializes in trade finance requirements of companies based in Hong Kong and the UAE. In using Tradewind’s USD 350,000 facility, the company was able to support open account terms of 60 days for its buyers.
“Despite playing a crucial role in international trade, small and medium-sized trading companies often find it hard to manage their cash flow. Tradewind’s practical funding solutions helped the client to optimize its working capital, enabling the client to stay competitive and maintain growth in the complex and volatile international trading environment,” states Faraday Chen, Vice President of Sales at Tradewind China.
About Tradewind Finance
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 the 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.