DS-Concept Provides Factoring Facility to Home Textiles Manufacturer
DS-Concept Factoring provided a $3 million export A/R facility to an entrepreneur-led home textiles manufacturer in India. The client, who is experiencing growth in major markets such as the US, was limited by their local Indian banks and their conservative post-shipment financing. DS-Concept will provide financing on open account, documentary collections, and discounting of deferred payment LCs and anticipates a factored volume of $25 million for 2015.
“Bringing on our most recent India-based export client confirms a trend we have seen for the past year—many India SME’s can get sufficient support from domestic banks for pre-shipment and production financing, but post-shipment bill discount facilities remain too small, restrictive, and slow,” states John Stillwaggon, VP of sales of DS-Concept Factoring’s US office. “DS-Concept is very honored to be working with so many great India-based export clients, and helping to support Mr. Modi’s successful economic vision.”
The DS-Concept Group 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 exporters.