DS-Concept Provides $3 Million Factoring Facility to Multinational Garment Exporter
DS-Concept Factoring, a global commercial finance company specializing in international non-recourse factoring, has provided a $3 million export accounts receivable facility to a multinational garment exporter headquartered in Hong Kong with a factory in Bangladesh. The client, exporting readymade garments to retailers and wholesalers across Europe, is implementing this facility to meet the demand for open account payment terms by numerous overseas buyers. Upon receiving the PO from their overseas customers, DS-Concept will issue an L/C on behalf of the European buyer to the Hong Kong parent company so they can transfer this to Bangladeshi factory and then factor their export sales at FOB. With this facility in place, the client can secure some key European buyers and anticipates an annual factored volume of $25-$30 million.
The DS-Concept Group maintains a network of offices and affiliates all over the world, including USA, Bulgaria, Hungary, Turkey, Pakistan, Bangladesh, Spain, UK, UAE, China and Hong Kong as well as the headquarters in Germany. Combining credit protection, collections, and financing into a single suite of trade finance products, DS-Concept brings streamlined, flexible and best-in-class services to the world's exporters.
Contact Us Learn more about our customized cash-flow solutions and how we may help you grow your business.