The company's proposal was for $700,000. With this booster, they intend to increase their sales volume and accelerate the opening of their production plant.
Funding Line Amount
This Mexican company markets chemical products used in different industries. It was founded in 2019 but strengthened its operation in 2020, focusing on health products to address the global health emergency caused by COVID-19.
Despite its recent founding, the company’s team has more than eight years of experience in the manufacturing industry. The company also offers transportation logistics for its products domestically and in North America. Its export solutions have reached the United States, Canada, Europe, and South America.
The main products are antibacterial and disinfectant alcohol. Within its register, it works with the distribution of non-hazardous aggregates such as detergents, disinfectants, and food grades; and the logistics of hazardous products such as acids, amines, and surfactants.
The needs of this company are driven by the slow turnover of liquidity due to payment terms and its thriving growth. Until recently, it has been financed mainly through its suppliers, but they are already experiencing payment delays, with half of its accounts payable having terms of up to 30 days, and 38% are between 31 and 60 days.
Companies with exponential growth take a risk that their debtors may not be able to keep pace, which can slow down their progress. Thus, factoring offers them a short-term financing solution without compromising customer relationships.
The company’s proposal was for $700,000. With this booster, they intend to increase their sales volume and accelerate the opening of their production plant, scheduled for the end of 2022. It is expected to be the beginning of a long-lasting partnership that will allow for the growth of this line over time.
ExpoCredit does more than finance a business. We understand the importance of helping companies face the pandemic. This industry has been at the forefront in overcoming this crisis. The end of an unprecedented period for humankind is drawing ever closer through the production of these products.
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