By Catherine Alvino | Marketing Coordinator | DS-Concept Factoring, Inc.
DS-Concept closed a 250 million HUF credit facility for a Hungarian trading company that sells household appliances and kitchenware domestically to big multinational corporations. Under the arrangement, the company plans to use the provided liquidity to accommodate the 60-90-day payment terms of its buyers and reach its ten-figure annual turnover goal.
The client sought out DS-Concept when a former business connection pointed them in their direction. As a new trading company, it was unable to get financing from traditional banks but found compatibility with DS-Concept, which had the international capabilities to structure the facility in the preferred currency, HUF, and to supply local knowledge from the DS-Concept Hungary office.
“The accessibility of DS-Concept’s resources in Hungary, as well as our timely provision of cash flow in any currency needed, made the partnership with our client very productive,” says Róbert Szakács, Managing Director of DS-Concept Hungary.
The DS-Concept group provides innovative international cash flow solutions tailored for global clients. Focused on the mid-market, its core products are non-recourse factoring and supply chain finance. The group has built an unrivaled reputation for the depth of its international finance expertise by maintaining a network of offices and affiliates around the world including the USA, China, India, Hong Kong, UAE, Turkey, Bangladesh, Pakistan, Iceland, Bulgaria, Hungary, Peru and its headquarters in Germany. Combining financing, credit protection, and collections into a single trade finance facility, DS-Concept offers streamlined, flexible and best-in-class services.
Compliments of DS-Concept Factoring, Inc. , a member of the EACCNY