Product: Factoring Line
Funding Line Amount: $ 150,000
Company Type: Food production
Industry: Food and Beverage
This company is a leader in fresh tropical fruit export in Venezuela. For 30 years, it has dedicated its resources to the production, commercialization, and export of plantain and cassava chips in the form of snacks. This famous brand is currently popular in five countries, including the United States.
Over the years, the company’s strong reputation and quality products have solidified its presence in the American market; their snacks are carried by major US retailers, including Publix and Winn Dixie.
The company has a major distribution client in the US with challenging payment terms: 45 days after the merchandise is shipped (15 days between transportation and customs + 30 day payment terms). However, our client is required to pay its suppliers (raw materials and transportation) entirely in advance to maintain operations.
Even though this is a Venezuelan company, based on the client’s good and extensive payment history with its US client, ExpoCredit agreed to start making invoice advances after receiving the Bill of Lading once the product arrived in the USA. ExpoCredit approved a credit line of $150,000, which will help the company extend payment terms up to 45 days and ensure that they have enough working capital to continue to grow their international business and maintain operations as usual.
ExpoCredit is helping this startup company to keep growing its blue-chip customer base while facing up to 120 days in payment terms.
ExpoCredit helped this company increase payment terms to its primary customer.
ExpoCredit is helping this company with the working capital needed to manage seasonality