DS-Concept Factoring, has provided $3 million exports accounts receivable facility to an Indian autoparts maker that is getting ready to take on the global market.
A maker of truck and tractor parts for major automobile manufacturers in the USA, and Europe, will use the funding for the creation of further inventory and to increase their investable funds.
The client can now replace the need for an ECGC credit insurance policy and can avoid the long underwriting and decision-making process common with domestic Indian banks.
“We are very pleased to bring onboard yet another export client based in South Asia, as the region continues to impress us with the many quality companies in need of supportive trade finance,” states John Stillwaggon, Vice President of Sales of DS-Concept Factoring. “We think DS-Concept Factoring can bring a tremendous amount of support to these exporters, especially through our un-capped, non-recourse, export factoring facilities. Our quick underwriting turnaround and our ability to fund within 24-48 hours of shipment is a welcomed change for our clients in South Asia, especially when compared to the domestic financial companies they are used to working with.”