Stenn International has closed a six-figure trade receivables finance program for a trading company based in New York that sources photographic paper from Canada.
This new financing program is being used to free up working capital to support sales expansion.
The importer’s Canadian supplier engaged with Stenn to receive payment at the time of invoicing and shipping of goods, while the importer benefited from open account payment terms that allowed for payment at a later date. In this way, Stenn’s program provides liquidity to both parties in the trading relationship.
“We would like to extend a very special thanks to Isaac Gancfried & Associates, our introducer and partner on this transaction, said Peter Clement, business development director, Strategic Accounts. “This program was closed in less than 60 days and Isaac Gancfried & Associates facilitated this quick turnaround.”
London-based Stenn provides innovative finance solutions that unlock working capital in global supply chain chains, improving cash flow and increasing flexibility for suppliers, intermediaries and buyers
