Tradewind Finance Provides $350K Funding to Manufacturer in India

Tradewind Finance closed a $350,000 credit facility for a leather handbag manufacturer based in India. The company exports its wares to Canada and the United States.

The company specializes in bags for both men and women. Its line of fashionably-weathered totes is sustainably produced in an effort to minimize water waste and the use of non-biodegradable plastics. The company maintains a fair working environment too, barring underage employment and empowering women from underprivileged backgrounds to join its talent force.

Managing cash flow was a problem for the India-based manufacturer given the 60-day credit terms in place with its buyer. At the suggestion of a peer in the leather accessory business, the company secured additional capital by factoring its receivables with Tradewind.

“We are pleased that our financing solutions could accelerate cash flow for our client and are on board to increase the facility size as their needs require,” Soheil Zali, regional commercial director and board of director at Tradewind Middle East Limited, said.

Funding support, projected to grow to approximately $1 million by the year end, is going toward the company’s mission of improving the welfare of its community and the planet. With the cash flow to sustain extended payment terms, which are preferred by many large retailers, consumer-conscious shoppers will also continue to see the company’s eco-friendly bags stores.