The steel trellises used to grow apple trees do not just contribute to nourishing people. They support the ever-popular “pick-your-own” industry, a treasured pastime in places like the United States.
So when a Texas-based distributor of steel products for applications like these orchards and vineyards, as well as construction and defense, needed financing to help scale up their own business, they wanted a financial partner who could be resilient and flexible at the same time. The pandemic had created higher demand for steel resources in the US market as imports from Asia dropped, and the company was eager to capitalize on the available growth opportunities in the states.
Tradewind Finance, who has been serving an increasing number of clients in the commodity industry, fit the bill and provided the company with a USD 1 million facility. The facility accelerated cash flow by advancing on the company’s receivables, giving them the financial cushioning to extend payment terms to big box retailers. In addition, the company could pay suppliers faster with the additional capital on hand.
The Texas enterprise is co-owned by a steel outfit in India, where Tradewind also has an office and staff. This dual presence was another reassurance to the company when deciding on their preferred lender.
“By partnering with Tradewind, the client was able to attract larger buyers by offering more flexible payment terms than their competitors while still being able to keep pricing competitive,” Kevin Gillespie, Vice President – Sales at Tradewind’s USA branch, said.
Founded in 2000, Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, India, Pakistan, Peru, Turkey, UAE, and the 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.
