Funder approved USD 5 million + USD5 million Supply Chain factoring facility for an freight forwarder. The facility will be used to support its trade credit as well as its operations.
Client is a forwarder who mainly provide full service to new energy vehicle manufacturers in PRC to oversea buyers.
According to usual practice of shipping liners, all freight charges have to be fully settled without any credit upon on board. Client has to prepaid the freight charges and the vehicle manufacturer will settle full delivery costs 60-75 days later. Our forwarding client works smoothly under USD5M credit limit.
Funder could arrange finance under this service charge.
At the same time all the product sell from vehicle manufacturer is under COD basis which make their authorized dealer seek our finance also. We have successfully granted limit of US$5M to a listed company in Thailand who imports e-vehicle under valid official license. The limit has just increased to US$8M to accommodate the third quarter orders this year.