Tradewind Finance has provided a USD 1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi, and grouper, to retailers and distributors in the USA. The company is a new subsidiary of a large seafood farmer and processor based in Costa Rica and is using the funding to expedite cash flow back to the parent company and support growth in the USA.
At the time of the financing deal, the company was experiencing high growth. The seafood establishment had worked with another factoring firm in the past, but they chose Tradewind Finance as their new financial partner because of their more attractive pricing and their portfolio of working with numerous businesses in the seafood sector, a niche in which Tradewind has vast experience and is regarded for their flexible cash flow solutions.
In addition, with plans to expand into Europe, the seafood establishment found comfort knowing that Tradewind, being Germany-headquartered with a network of European offices and business affiliates, is able to offer local support and leverage their international capabilities in the new market.
“Our client’s parent company in Costa Rica is a well-established aquaculture company with a great track record of sales to the USA. We are excited to work with our client, the new USA subsidiary, to help maximize their potential in the US market through our non-recourse factoring facility which provides both risk mitigation and financial support,” states Brian Dowd, Vice President at Tradewind’s New York office.
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 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.