Tradewind Finance closed a €1.5 million ($1.8 million) export factoring facility for a producer of hazelnut items based in Turkey that sells to more than 50 countries. The producer is using the funding to cover the cost of raw hazelnuts from suppliers as well as to increase sales and expand its presence in European markets.
The brand’s line of products includes hazelnut kernels, roasted and diced hazelnuts and hazelnut paste. Since chocolate and confectionary producers are selective when buying hazelnut ingredients and often source based on what payment option is most attractive, the Turkish company sought to strengthen its bargaining power and turned to Tradewind Finance for support.
Tradewind’s senior leadership team in Turkey listened to the brand’s specific needs and provided a factoring solution that advanced cash to the hazelnut business, placing it in a strategic position to offer longer payment terms to customers. The financing bridged the gap in working capital until payment was due, and funding was structured in euros, the hazelnut company’s requested currency.
As the company’s new financial partner, Tradewind Finance can adjust funding based on the company’s fluctuating sales.
“Tradewind’s creative financing enabled our client both to pay vendors on time and extend payment terms for buyers. We are pleased to help our client stay competitive, achieve their growth goals and keep business running smoothly,” Beyza Durdağı, head of sales for Tradewind Turkey, said.
