DS-Concept has funded an Indian textile titan with an export factoring facility worth $5 million. The company, a manufacturer and exporter of readymade garments, including knits, woven goods, leather and accessories, mainly ships to the US and Europe, selling to big-name buyers such as Ann Taylor, Guess and Sainsbury’s.
The client approached DS-Concept with the goal of expanding its business, and required accelerated cash flow to do so. While its funding sources were limited and carried high interest rates, DS-Concept offered competitive pricing to finance its open account 60-day payment terms with its buyers. DS-Concept was able to provide off-balance sheet funding, which helped bridge the working capital requirement gap.
The company is already taking additional orders from the buyers, and as they expand, DS-Concept will scale its funding in line with sales, an asset unavailable with traditional banks.
“We are pleased to announce the onboarding of an industry-leading client in India’s textile sector,” says Ankit Goel, Managing Director of DS-Concept Intelligent Trade Finance Ltd., UAE and India Operation. “The appeal of our non-recourse product within the Indian manufacturing community is promising, and we look forward to tapping further potential in this segment.”
DS-Concept, an international trade finance group headquartered in Germany with 16 global offices, works with SMEs worldwide to provide non-recourse factoring and supply chain financing. With over 150 employees in 15 countries, speaking over 15 languages, its staff offers world-class customer service and truly understands global trade.