DS-Concept Provides $3 Million Export Factoring Facility to Multinational Plastics Trader
DS-Concept Factoring, Inc., a global commercial finance company specializing in international non-recourse factoring, has provided a $3 million export accounts receivable facility to a trading company headquartered in the British Virgin Islands with subsidiaries in the US, Canada and UK. The client, who supplies plastics, polymers and resins to manufacturers and distributors in the US, Europe and the Middle East, will receive Euro, GBP and USD factoring lines. Implementing this non-recourse factoring facility to accommodate growing sales, the client will receive financing on open account, L/C and documentary collections payment terms and anticipates an annual factored volume of $30MM-$40MM.
“Sourcing from Asia and expanding their export sales across three continents, our newest client joins us at a critical time in their growth,” states John Stillwaggon, Senior Vice President of Sales. “Being asset light in nature as a trading company, our financing provides a multi-jurisdiction, multi-currency facility that was out of the question for banks and other traditional lenders.” The DS-Concept Group (www.ds-concept.net) maintains a network of offices and affiliates all over the world, including USA, Bulgaria, Hungary, Turkey, Pakistan, Bangladesh, Spain, UK, China and the United Arab Emirates 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 small and mid-sized exporters.
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