Tradewind Finance closed a $650,000 credit facility for a manufacturer of mobile chargers and other consumer electronic accessories based in Hong Kong. The company has two factories in Vietnam and exports primarily to the U.S. and Europe and to brand names like Belkin International. The deal provided funding to improve working capital and support growth.
The company approached Tradewind when traditional bank financing proved to be too restrictive for its needs. Rather than continuing with a lending arrangement that required collateral from its customers, the company pursued Tradewind to finance its shipments while it waited for payment. Tradewind’s non-recourse receivables financing accelerated cash flow as the company filled orders, provided credit protection on invoices and eliminated the use of securities in the lending relationship.
“We are pleased to address our client’s financing needs, especially in the face of such headwinds as the U.S./China trade war and the outbreak of COVID-19,” Alan Wong, managing director of Tradewind Hong Kong, said. “We look forward to serving as our client’s financing partner as they grow.”
