CHANGZHOU, China, March 7, 2019 /PRNewswire/ -- Tradewind has closed a deal with a PVC flooring manufacturer based in Changzhou, Jiangsu to provide a non-recourse export factoring facility of US$3 million before the Chinese New Year. The company produces wood-plastic (WPC), stone-plastic (SPC), and LVT flooring, which are exported to the US and Germany with annual sales of $30 million.
The company has invested RMB 60 million two years ago and built a new production line to meet the market demand for PVC flooring. With considerable profits and huge development potential, the high investment in the previous period made the company's debt ratio too high and fell into the dilemma of insufficient liquidity. After learning about the company's situation, Tradewind quickly customised a financing plan to meet the needs of all aspects of the company. With the account set up, Tradewind quickly provided 500,000 US dollars in funding to the company, tremendously easing the pressure of the company's financial stress before the Chinese New Year, and greatly impressed the company's management.
In addition, with the injection of Tradewind's funds, the company has obtained sufficient working capital, ended the embarrassment of the orders, and resumed investment in new product development and debugging. At the same time, the quality of the products is guaranteed and the trust of the customers is won.
"Changzhou flooring enterprises occupy 90% of the global capacity of the PVC flooring industry, and the company is a relatively large in the flooring industry in Changzhou. The success of the cooperation not only helps customers solve the problem of capital turnover, but also helps us in the flooring industry. It has set a good example and can be promoted to more companies to help them get enough cash flow," said Jason Wang, vice president of sales at Tradewind China.
Tradewind (formerly DS-Concept) maintains a network of offices all over the world, including Bangladesh, Bulgaria, Mainland China, Hong Kong, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and 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.