Daily News: August 2, 2019

Tradewind Provides $800K Credit Facility to Honey Exporter

Tradewind has completed a $600,000 trade finance facility for a high-quality organic honey exporter based in Brazil that sells mainly to buyers in Europe and North America.

The exporter is using the facility to increase sales, retain and expand its customer base, and achieve financial independence from its European parent company amidst new growth requirements.

With rising global demand for honey, the client sought out Tradewind for financing to accommodate its capital needs for growth and to alleviate reliance for funding on the company’s European headquarters. Honey production was hampered in Brazil in past years due to drought, but with the return of better weather conditions in the country, the client wanted to capitalize on the upswing of the sticky sweetener.

Tradewind is financing sales to the client’s customers on 30-, 60-, and 90-day open account terms. The funding will enable the client to better plan its forecasts, increase exports, and be more competitive in the international market with the ability to accept and offer longer payment terms. The added cash flow from Tradewind will also position the client to work with a greater range of suppliers.

“The company came to us with a need for financing to gain independence from their parent company and increase their sales to the European and North American markets. We managed to fulfill their needs successfully and helped them to develop a strategy that will contribute significantly to the growth of the company,” said Marcelo Lorenzetti, who handles sales for Tradewind in Brazil.