Aventura, FL – Trade Finance Solutions Inc., a leading provider of global trade financing solutions, announced they have provided a $10 million asset-based lending facility to a wholesale distributor of petroleum products (“Company”). The proceeds will be used for working capital and to support seasonal requirements and the growth of Company.
With offices in Dubai, United States, Denmark, France and Panama, the Company has been an active bunker fuel trader and physical supplier of fuel in the Americas, West Africa, Europe and Asia since 2012.
“The facility will allow the Company to actively participate in new business opportunities and successfully expand their business into new international markets,” said Bruce Sim, Senior Vice President of Trade Finance Solutions. “Their prior lender was not providing sufficient working capital and with the fluctuations and uncertainty of the oil industry, the Company was looking for a partner who was committed to the energy industry and understood the nuances of global trade.”