Summar Provides $500K Supply Chain Finance Facility to a Frozen Seafood Importer.
Success Factoring Case
A Southeast frozen seafood importer needed support to pay its suppliers in China, Indonesia and Latin America. Having a bank credit facility already in place and an impressive growth, this seafood importer was facing a seasonal cash crunch that could not be fulfilled by his current lender due to the high balance owed on his current line of credit.
Having a peak sales season with clients who demand payment terms and suppliers overseas who demand payments upon shipment, this seafood importer needed a way to leverage from his growth trend and complement his existing bank line.
Summar Financial provided a $500K non-invasive, unsecured Supply Chain Finance line that allowed this seafood importer to pay for his product purchases with his suppliers overseas at sight, while enjoying payment terms between 30 and 90 days, allowing improved liquidity for both client and supplier and widening the range of supplier relationships, without affecting the seafood importer’s existing bank line.
Summar Financial tiene un fuerte enfoque en la industria pesquera y proporciona Supply Chain Finance y factoraje de facturas sin recurso para importadores y mayoristas de productos del mar que van desde la puesta en marcha hasta $ 100 millones en ingresos anuales. Nuestra experiencia y dedicación en la industria nos ha permitido presentar ofertas de productos innovadores que respaldan el crecimiento de muchas empresas en este sector.