HONG KONG, Nov. 24, 2021 /PRNewswire/ — Tradewind Finance is pleased to announce it has closed a USD 20 million export factoring facility for a steel trading company based in Hong Kong. The facility, in addition to the steel trader’s significant existing borrowing facilities, will be used to support the company’s growing international trade requirements, primarily to the US and Europe and upcoming trade deals based in South America and Southeast Asia.
The Hong Kong-based company, established 15 years ago, maintains local trading offices in major cities across the world and provides a variety of high-quality steel products and solutions for application across various industries. The company considered availing non-collateralized, trade-based facilities with Tradewind when it was suddenly faced with buyer payment extension requests and a surge in orders from both new and existing relationships.
Jason Wang, Vice President of Sales for Tradewind China, said: "We are delighted to support our client in their ambitions towards the development of a significant buyer portfolio across their target markets. Tradewind’s scalable financing solutions will allow the company to pursue large, international orders with confidence due to our sizable network and industry expertise."
About Tradewind Finance
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and the USA as well as the headquarters in Germany. Combining financing, credit protection, and collections into a single suite of trade finance products, Tradewind brings streamlined, flexible, and best-in-class services to the world’s exporters and importers.