B2B Payments

Tradewind Looks To Expand Services Across SE Asia

Financial services company Tradewind is looking to expand its footprint in Southeast Asia, a press release says.

Tradewind, which provides international financing and supply chain financing, recently funded a garment company in Vietnam that was looking to capitalize on a rapid surge of orders, including deliveries to Europe and the U.S. The company turned to Tradewind to help boost cash flow, the press release states.

In addition, another deal saw Tradewind providing funding to a Hong Kong electronics company with a factory located in Vietnam when the company decided traditional banking measures would not suit its needs.

The company's greater network for Southeast Asia consists of clients and business partners in Hong Kong and mainland China, and many Southeast Asia-based companies tend to export to that area, the press release says.

Tradewind usually provides liquidity to businesses in that region, the release says, including in Vietnam and surrounding countries. The financing provides working capital for smaller firms that may be struggling trying to obtain a traditional bank loan.

The clients include exporters and importers in industries including electronics, pharmaceuticals, apparel and automobiles — and the payments are fast, according to the press release.

Tradewind adjusted its services early on in the COVID-19 pandemic, including more flexible terms like extending payment financing terms up to 180 days, and trying to help companies sitting on large amounts of products that no one was purchasing during the shutdowns.

The company said the latter issue could be tackled via "creative" means.

In an opinion piece from earlier this year, Tradewind Finance Chief Financial Officer and Senior Executive Officer Peter Maerevoet said the pandemic would present a new opportunity to test exactly how strong businesses' relationships with suppliers and others would hold up. He said those which were not truly honest would likely die off due to the pandemic's strains.

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