A/R Financing | Seafood
ExpoCRedit helping this company with the working
capital needed to manage seasonality
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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