Tradewind has announced the closing of a $2.5 million export factoring facility for a producer of fishmeal based in Peru. The aquaculture company sells to buyers in Asia, Europe, South and North America. Tradewind finances the client’s sales on 30 to 60-day terms.
As Peru is the world’s leading source of fishmeal, and the client is in a prime market to drive revenue. In order to support its increasing volume of orders, it approached Tradewind for the additional liquidity it needed for growth. Not only did Tradewind provide the tools to accelerate the company’s cash flow and offer flexibility as well as competitive interest rates, it also strengthened the client’s credit capabilities overseas by providing credit protection and performing collection, dunning, and bookkeeping on the client’s behalf.
“We are pleased to assist yet another Peruvian company reach their growth potential. Tradewind has serviced seafood clients like this around the world, and we are happy to help our client thrive in the flourishing Peruvian economy,” said Fabrizio Vásquez Curotto, Tradewind’s country manager of Peru.
Tradewind is also currently considering working with other companies within the South American holding company the client belongs to. Its Peru office continues to be a valuable point of access to factoring in South America.