DS-Concept Provides Factoring Facility to Seafood Exporter
DS-Concept Factoring provided a $4 million export accounts receivable facility to a multinational shrimp exporter headquartered in Spain.
The client, which provides cold water shrimp to retailers and wholesalers in Europe, Asia, the U.S. and GCC, is growing rapidly because of shrinking exports from the U.S. and anticipates a total factored volume in excess of $30 million for 2015.
“We’re very pleased to welcome a third generation family business to our portfolio of clients,” states Brandyn Prust, VP of sales of DS-Concept Factoring’s US office. “The new credit facility will allow the company to focus on sales in regions which were dominated by their competition, such as Northern Europe and the Gulf States, resulting in exponential growth.”