Financial Group

Seafood Distributor

ExpoCredit helped this seafood distributor to expand by including a new vendor to their business.

Deal Summary

Product
Strade
Funding Line Amount
$1,000,000
Company Type
Seafood Distributor
Industry Type
Seafood
Location
Florida, USA
This Florida based company is a market leader in the production and distribution of frozen seafood. They sell a variety of products, including Mahi Mahi and Pota, which is a giant calamar. The company has been in the market for over 20 years and has mainly imported its products from Peru, where they have their own processing plant. Lately, they have started to purchase seafood products from Argentina.

Challenge

Like many other companies looking to expand, they need working capital to pay their new Argentinean vendor quickly to have their products released and avoid late payment penalties. Currently, their customers’ payment cycles can extend up to 120 days.

Solution

The company is profitable and has been growing quickly. Based on it’s solid performance, coupled with growing demand for its products, ExpoCredit felt confident approving a line for up to $1,000,000 in supply chain financing with repayment terms up to 90 days