Tradewind Announces Export Factoring Facility for Electronics Company in Hong Kong

HONG KONG,Aug. 29,2019 -- Tradewind has closed a $2 million export factoring facility for an electronics company based in Hong Kong that sells items such as smart watches,smart bands,and tablets to traders and retailers globally. The company is able to extend open account payment terms to their customers and continue to grow their business with Tradewind's funding in place.

When the company began discussions with Tradewind,they were approaching their peak export season. As an SME,they lacked the strong financials banks looked for before issuing a loan,and therefore valued Tradewind's willingness to fund based on the creditworthiness of the importer instead.

Though they traditionally worked on at sight arrangements with their customers,the company wanted to extend open account payment terms to one of their buyers in order to stay competitive and keep winning their orders. The company took assurance in the credit protection Tradewind provided as part of its trade finance package,easing their fear of nonpayment given the longer windows the customer had to settle their invoices under these new terms.

Knowing the tight implementation schedule it was on to accommodate the rush of summer orders,Tradewind spared no time in structuring a financing solution that met the client's unique needs and provided funding promptly. The additional cash flow from Tradewind allowed the client to support open account terms with their buyer while paying their suppliers and operating expenses on time.

"Tradewind's expertise in trade finance and its strong client relation team made the financing process easy for both the buyer and supplier and sped up every step. We are happy that we were able to execute a fast funding turnaround so our client could continue to grow,especially during times of high seasonal demand," states Alice Lo,VP of Sales for Tradewind Hong Kong.

Tradewind (formerly DS-Concept) maintains a network of offices all over the world,including Bangladesh,Bulgaria,Mainland 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.