Tradewind has funded a producer of metal pipes based in Bulgaria with both an export factoring facility of €340,000 and a purchase order facility of €425,000.
The company, whose pipes are used in furniture, sells to buyers in Europe, including the iconic furniture giant IKEA. Proceeds from the facilities will be used to finance growing sales with new buyers, including Amazon, on open account payment terms as well as for the diversification of its product line and the purchase of materials needed to grow its business.
The pipe producer turned to Tradewind after a decade-long investment in machinery and equipment had drained the company of €10 million. As it was slated to start a new line of steel tubes for the automobile industry, the company found itself struggling to cover the cash requirements demanded by growing sales and the procurement of supplies. As Tradewind had previously worked with its parent company, the pipe producer decided on Tradewind again because the group was very satisfied with services it provided in the past. Tradewind’s ability to scale its funding with sales growth is also beneficial to the company as it prepares to add Amazon to its buyer portfolio.
“We are pleased for yet another opportunity to assist a group we worked with in the past and have built a relationship with over the years. We are confident that our services can help with the long-term growth of the client, especially as it prepares to partner with the e-commerce magnate Amazon,” states Boris Tzvetanov, Managing Director of Bulgaria.
Tradewind 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 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, Tradewind offers streamlined, flexible and best-in-class services.
Complements of Tradewind Finance, a member of the EACCNY