Tradewind Finance provides $5 million to Mauritian clothing company

The company carries out everything from sample preparation to cutting, embroidery, stitching, printing, and washing in-hose. With over 30 years of experience in the apparel and textile industry, it constantly evolves to keep pace with cyclical changes. The company has recovered from the lull brought about by the pandemic to expand its exports and cater to larger buyer requirements with a positive projection for sales, as retail has improved substantially in their target markets, Tradewind said in a press release.

Nearly all of the company's receivables were in EUR and USD currency, with a 90-to-120-day open account billing term. Previously self-financed, the receivables finance programme offered to the company would enable it to accelerate its cash inflows and, by outsourcing accounts receivable management, more effectively focus on expanding its product offerings and core sales activities.

“It is a pleasure for us to be able to deliver the liquidity our new client in Mauritius needs to achieve their goals. Providing our client with an open account facility without a collateral requirement will allow them to focus on their core business with no worries about working capital and risk,” Soheil Zali, regional commercial director of Tradewind Asia, said in a statement.

ALCHEMPro News Desk (GK)