Source: Media Outreach
HONG KONG SAR – Media OutReach – 19 July 2023 – Tradewind Finance is pleased to confirm the closing of a USD 700,000 export factoring facility for an electronics trader based in Hong Kong, a key trading hub for electronics products in Asia-Pac. This financial partnership enabled the company to receive immediate cash for its outstanding accounts receivable, while also maintaining strong relationships with both suppliers and buyers.
Major export markets for Hong Kong’s electronics exports include mainland China, the EU, the ASEAN, and the US, according to Hong Kong Trade Development Council. Mainland China is also the major source of Hong Kong’s electronic products trade.
The company originally focused on software development, and has successfully supplied electronic products to customers in the US for many years. With high-quality products sourced from mainland China, the trader has received various recognitions and is greatly welcomed by the US market. Its diverse buyer portfolio includes numerous distributors that operate on a large scale, making it a well-respected player in the market.
However, the company’s growth has been limited by its tied-up cash flow in its accounts receivables. Adequate working capital became an urgent need for the fast-growing exporter, which has been financed mainly through internal resources.
With tailor-made trade finance solutions, composed of an export factoring facility of USD 700,000, trade credit insurance, and account receivable management provided by Tradewind, the company obtained the necessary working capital to support its continued success, including taking on more orders with payment terms of 90 days open account, growing its business, and increasing its revenue effectively.
“The scalable factoring facility is suitable for the company to achieve its goals and reach its full potential. It is expected that they will add more qualified buyers to the portfolio after the trial of our services. We look forward to a successful and sustainable partnership in the future,” said Dickson Au, Regional CEO – Far East, at Tradewind Hong Kong.
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