Daily News: May 7, 2019

Tradewind Delivers $448K Credit Facility to Icelandic Seafood Exporter

Tradewind closed a €400,000 ($480,000) accounts receivable facility for an exporter of fresh and frozen fish that is based in Iceland and sells to the UK, Netherlands and North America. The company is using Tradewind’s facility—structured in euros, British pounds, and U.S. dollars to capitalize on growth opportunities and enter new markets.

To help the seafood exporter meet these objectives, Tradewind enlisted a senior leader from its Iceland office to customize a financial solution that addressed the company’s unique needs at present and for the future. This same leader had worked with the exporter in the past on financing two-generations worth of ventures for them.

“We met the client with open ears and a willingness to get creative with our financing approach,” says Sveinn Reynisson, country manager of Tradewind Iceland. “After listening to their concerns and plans for growth, we created a solution that scales funding in line with their sales so they can multiply their export volume without worrying about insufficient cash to fill orders.”

At the time it approached Tradewind, the seafood company was experiencing rapid growth and needed additional cash flow to expand its customer base in territories it had not yet tapped into. The owners, who themselves grew up in the fish processing and export sector, trusted they were in good hands with Tradewind based on the firm’s own acumen of the industry, which it has developed from years of financing a portfolio of seafood clients around the world, all with quick turnaround.

“The client and Tradewind worked closely together in developing a tailored financing arrangement that provided immediate funding. We are confident that our facility will allow the client to maximize their sales potential and successfully enter new markets,” adds Reynisson.