Financial Group

Seafood Industry

ExpoCredit helped this seafood business to expand into new markets.

Deal Summary

Product
Factoring Line
Funding Line Amount
$1,000,000
Company Type
Frozen Seafood Distributors
Industry Type
Seafood
Location
US
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.

Challenge

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.

Solution

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.