A/R Financing | Seafood

                               Prodcut    Factoring Line

Funding Line Amount    $1.500.000

   Company Type   Fishing

                           Industry Type    Fish and Seafood

                     Location   Argentina

This company has been in business for over 30 years and has 16 ships in its fleet. It mainly and processes shrimp, squid and Patagonia toothfish. Its principal markets are the European Union , Japan, China, Russia, and the United States.

Challenge

Fishing is a very seasonal business because certain speces can only be caught during certain times of the yer and because there are maximun quotas for certain speces. The company needs additional working capital to continue to grow its business and to offset the effects of COVID19, which caused its customers to request longer payments terms.

Solution

Bases on the company’s long-standing track record in the industry and the good payment behavior of its customers,ExpoCredit was able to approve a Factoring line of credit for the company that will help it continue to grow during these uncertain times.

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