Trade Finance Solutions Inc., a leading provider of global trade financing solutions, provided a €7.5 million supplier credit facility to a Slovakia-based manufacturer of specialty fibers (“Company”). The facility will support the Company’s extended payment terms on major materials purchased. The manufacturer is a major supplier to industrial companies across Europe.
Supplier credit, also known as supply chain finance, allows companies to lengthen the payment terms of their commercial purchases while providing the option for vendors to get paid early. The buyer optimizes working capital and the supplier generates additional operating cash flow, thus minimizing risk across the trade ecosystem. The supply chain financing market has evolved in recent years as more companies are focusing on global growth and are looking to strengthen their relationships with suppliers.
“We’re pleased at our continued growth in Europe and it further signals our commitment to the market.
Our client is a world class manufacturing concern and we’re delighted to support their growth,” said Bruce Sim, global head, business development of Trade Finance Solutions.