Stenn concluded a seven-figure trade receivables finance program for an Indian importer of mobile devices and accessories from a manufacturer based in Hong Kong. The importer is a global participant in the telecom industry, distributing to manufacturers, operators and retailers.
“Stenn has proven to be a viable partner as we continue to navigate through these uncertain times. As a client advocate, it is imperative that we have alternative solutions to offer our clients. Securing capacity and funding in the marketplace varies with each opportunity. It is not only essential to have strong relationships with banking institutions but to also have direct access to alternative funding solutions. Having worked with Peter Clement for many years, I have confidence that our clients will see the intrinsic value in working with a company like Stenn,” Salvatore Garry, associate director of financial solutions at Willis Towers Watson, said.
In importer-led receivables financing, the importer acts to introduce the solution to its suppliers, who are the actual clients of the finance company. Suppliers receive payment at the time of invoicing and shipping, while the importer benefits from open account payment terms that allow for payment at a later date.
Stenn International is a UK-based data and financial technology company providing financing to companies engaged in cross-border trade.
