DS-Concept Factoring, Inc., a global commercial finance company specializing in international non-recourse factoring, has provided a $3 million export accounts receivable facility to an automobile parts manufacturer in India. The client, who provides truck and tractor parts to major automobile manufacturers in the USA, and Europe, is implementing this non-recourse factoring facility to free up their local borrowing facilities so they can reinvest in additional inventory and capital expenditure to accommodate growing sales.
By working with DS-Concept, the client can now replace the need for an ECGC credit insurance policy and can avoid the long underwriting and decision-making process common with domestic Indian banks.
“We are very pleased to bring onboard yet another export client based in South Asia, as the region continues to impress us with the many quality companies in need of supportive trade finance,” states John Stillwaggon, Vice President of Sales. “We think DS-Concept can bring a tremendous amount of support to these exporters, especially through our un-capped, non-recourse, export factoring facilities. Our quick underwriting turnaround and our ability to fund within 24-48 hours of shipment is a welcomed change for our clients in South Asia, especially when compared to the domestic financial companies they are used to working with.”
The DS-Concept Group (www.ds-concept.net) maintains a network of offices and affiliates all over the world, including USA, Bulgaria, Hungary, Turkey, Pakistan, Bangladesh, Spain, UK, China and the United Arab Emirates as well as the headquarters in Germany. Combining credit protection, collections, and financing into a single suite of trade finance products, DS-Concept brings streamlined, flexible and best-in-class services to the world’s small and mid-sized exporters.