Tradewind Finance Provides Credit Facility To Hazelnut Company Based In Turkey

News provided by

May 19, 2021, 08:15 ET

ISTANBUL, May 19, 2021 /PRNewswire/ -- Tradewind Finance has announced the closing of a EUR 1.5 million export factoring facility for a producer of hazelnut items based in Turkey that sells to over 50 countries globally. The funding is being used to cover the cost of raw hazelnuts from suppliers, as well as to increase sales and expand the company's presence in European markets.

The brand's line of products includes hazelnut kernels, roasted and diced hazelnuts, and hazelnut paste. Since chocolate and confectionary producers are selective when buying hazelnut ingredients and often source based on what payment option is most attractive, the Turkish company sought to strengthen their bargaining power and turned to Tradewind Finance for support in this effort.

Tradewind's senior leadership team in Turkey listened to the brand's specific needs and provided a tailor-made factoring solution that advanced cash to their hazelnut business, placing them in a strategic position to offer longer payment terms to their customers. The financing bridged the gap in working capital until payment was due, and funding was structured in the hazelnut company's requested currency, Euro.

As their new financial partner, Tradewind Finance can adjust funding based on the company's fluctuating sales, which can often be the case in a dynamic hazelnut market.

"Tradewind's creative financing enabled our client both to pay vendors on time and extend payment terms for buyers. We are pleased to help our client stay competitive, achieve their growth goals and keep business running smoothly," states Beyza Durdağı, Head of Sales for Tradewind Turkey.

Tradewind Finance maintains a network of offices all over the world, including Bangladesh, Brazil, Bulgaria, China, Hong Kong SAR, Hungary, Iceland, India, Pakistan, Peru, Turkey, UAE, and USA as well as its headquarters in Germany. Combining financing, credit protection, and collections into a single suite of trade finance products, Tradewind brings streamlined, flexible and best-in-class services to the world's exporters and importers.