Moda
Tradewind Finance Provides USD 3.5 Million Credit Facility for Hong Kong Subsidiary of Leading German Shirt Company
In the factoring arrangement, Tradewind is converting the Hong Kong company's receivables into immediate cash, ensuring a constant liquidity level and allowing them to meet the pre-payment terms of Asian suppliers and open account, 30+ day terms with U.S. buyers.
As a Germany -headquartered company with global offices, Tradewind brought expertise and an on-the-ground presence in the Asian, U.S., and European markets, making it a well-suited financial partner for the client.
MODINT Credit & Finance, an industry leader in credit management for the fashion and textile industry, introduced the Hong Kong -based deal to Tradewind. Together the firms were able to combine specialties and complete the necessary financing.
"This transaction is a perfect example of how collaboration with industry partners can make it possible to get financing across the finish line for the client, first and foremost. In this case, Tradewind and Modint teamed up, leveraged their international capabilities and network, and Tradewind was ultimately able to customize a factoring solution that addressed the client's unique working capital needs," Christian Fehmerling , Regional Commercial Leader Europe at Tradewind, says.
"Challenging times in a dynamic apparel industry require flexible partners. We're glad that this renowned client will be even better positioned to further enhance greater growth and financial success through our mutual efforts," Frans van der Hoorn, Managing Director of MODINT Credit & Finance, notes.
For more information about Tradewind and its export factoring solutions that accelerate cash flow and reduce trade risk, visit our website at www.tradewindfinance.com.
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh , Bulgaria , China , Hong Kong SAR, Hungary , India , Pakistan , Turkey , UAE, and the 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.
The Seidensticker Group was founded in Bielefeld, Germany , in 1919 and employs around 1,900 people internationally. The group manufactures a total of around 6 million items per year. The company is 100 per cent family-owned. The group is managed by managing partner Gerd Oliver Seidensticker , together with Dr Silvia Bentzinger (CEO of the Seidensticker brand) and Dr Marc Barrantes (CFO/COO).
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