Tradewind Finance Closes $15 Million Credit Facility for Manufacturer Headquartered in Europe
NEW YORK, Aug. 27, 2020 /CNW/ -- Tradewind Finance has provided a $15 million credit facility to a 75-year-old manufacturer headquartered in Europe with a subsidiary in the USA. The supply chain finance company is an industry leader in international trade financing. The client sells globally and is using the facility to support 120-day open account payment terms.
The deal took shape after the client was pressed to extend longer payment terms to a major buyer of theirs. The buyer previously had a vendor finance program in place that arranged for early funding to the client and other suppliers. When the program was discontinued, however, the company needed a quick solution to create cash flow so it could support the longer terms.
Tradewind Finance is providing full turnover factoring of the client's sales as part of a carve out from the parent company's European bank syndication. The financing provided the working capital necessary for the client to continue to win the orders of their large-scale customer and support their business overall. Tradewind's similar company structure, namely European headquarters and a branch stateside, made it the preferred partner who understood the dynamics and regulations of the business from both sides of the Atlantic.
"We are pleased to announce the closing of this significant new facility. The industry, locations, and structure of the deal made Tradewind a great fit for this client," states John Stillwaggon, CEO of Tradewind Americas.
With headquarters in Germany, Tradewind Finance has 20 years of experience in the financial services space and can finance transactions across all continents. Tradewind Finance offers their financing services in most major currencies and covers the risk of nonpayment for their clients. They provide a fast turnaround from the first contact to setting up the account and funding. Tradewind's innovative working capital solutions help drive global trade toward success.
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 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.
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SOURCE Tradewind Finance
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