Aurous Financial Services completes a $30 million revolving trade finance facility for Texas-based client selling electronics to a big box retailer in Mexico for 2023.
“We are excited to assist one of our AR lenders with a trade finance facility to support their client’s needs,” Jeff Sirchio, director of loan operations at Aurous, said.
The client was in a significant over advance with their AR lender and out of formula. Aurous came in, restructured purchase strategies and agreed to a reduced advance rate which required Aurous to await upon collection by the account debtor.
By doing so, the client became compliant with the AR lender and is moving towards a profitable 2023!
”We are very pleased that we have been a part of turning this situation around!” Sirchio said.
