SHANGHAI, Jan. 27, 2021 /PRNewswire/ -- Tradewind Finance has closed a USD 1 million credit facility for a tire trading company based in Shandong Province in China that exports to Europe, the USA, and the Middle East. The proceeds from the facility are being used by the company to take on larger orders from buyers.
Tradewind Finance Provide Export Factoring to a Tire Supplier Based in Shandong
The company was experiencing a shortage in cash flow when they decided to seek financial support. New environmental requirements enforced by lenders in China, which smaller manufacturers and trading companies struggled to meet, made it difficult for the company to obtain funding, however.
With increasing sales, the tire trader pursued a recommendation from another business in the industry, and like they had, turned to Tradewind for financing. Tradewind, working alongside the company's bank, was able to bridge the gap in cash flow while the company sold on open account terms to their buyers. The flexibility in the funding process and additional liquidity from Tradewind made it possible for the tire trader to accommodate larger orders from their customers and positioned them for further expansion.
In addition, Tradewind Finance provided credit protection and collections services that helped eliminate trade credit risk for the company.
"By carefully listening to our client's unique needs and leveraging our experience in the auto industry in China, we came up with a financing facility that was the right fit for the company. Tradewind provided flexibility and accelerated the necessary cash flow and resources for growth," states Jason Wang, VP of Sales for Tradewind Shanghai.
Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, 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.
For business inquiry, please contact:
www.tradewindfinance.com.cn
china@tradewindfinance.com
+86 21 6031 9919
![[L-R] Harish Venkatesan, Head of Corporates and Business Banking, HSBC Singapore; Kelvin Teo, Co-founder and Group CEO, Funding Societies](https://mma.prnasia.com/media2/2548023/L_R__Harish_Venkatesan_Head_Corporates_Business_Banking_HSBC_Singapore__Kelvin.jpg?p=medium600)
