(Toronto – September 13, 2017) Trade Finance Solutions (TFS) announced a major transaction today keeping in pace with growth projections for 2017.
The asset based lending deal worth $7 million is to support the client’s sales growth in the Mexican telecommunications industry. Working with Mexico’s telecommunication networks, the company sells to customers that are unable to afford more expensive products but still require long-lasting devices with equal capabilities.
Recently, the company was awarded a long-term contract with SONY and required working capital to finance the rapid growth in its operations.
The company is one of Mexico’s fastest growing and profitable companies, and has received an endorsement by the federal government that has a mandate to, “put a cell phone in everyone’s hands.”
“This is a great example of an industry in growth mode with strong businesses that require alternative short-term financing,” said Steve McDonald, President of Trade Finance Solutions. “In markets such as Mexico there are many companies emerging that have solid potential to be industry leaders.”
Trade Finance Solutions (TFS) is a Canadian, independent commercial finance company with $350 million in assets under management. The company provides short-term financing solutions to middle market companies, using factoring, asset-based lending, supply chain financial and purchase order financing. Clients use TFS services to finance products and bring them to the next level of sales volume and profitability.
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