Product: Factoring Line
Funding Line Amount: $1,000,000
Company Type: Frozen Seafood Distributors
Industry Type: Seafood
This is a Florida company that specializes in the production and export of frozen seafood. They have a production plant in Peru that can process up to 500 tons of product a day. Their products include Mahi-Mahi, Mackerel, Smelt, Snapper, Giant Squid, Shrimp, Octopus, and Scallops and they export all over the world.
The company is growing rapidly and has recently expanded to the European market. Product processing in Peru takes several weeks and transit times to Europe average 40 days which puts additional pressure on cash flow.
The company has 10 years in the market and has a proven track record. They have a diversified product offering and a diversified and growing customer base around the world. ExpoCredit was able to grant the company a factoring facility that allows them to continue their expansion/growth into new markets.
ExpoCredit helped this seafood distributor to expand by including a new vendor to their business.
A company with an impressive year-over-year growth rate obtained a flexible source of working capital
ExpoCredit allowed this company to keep growing by overcoming long cash flow cycles