This facility will help the Indian home textiles company, with clients in Europe, North America and the Middle East, support increased demand for open account payment terms from their overseas buyers. The company anticipates an annual factored volume of $5 million to $8 million by its implementation.
Commenting on the implementation of the factoring facility, John Stillwaggon, senior vice president - Sales of DS-Concept Factoring, said, “Because of our deep understanding of the industry, specifically in India, we have become very creative and flexible when it comes to servicing these fast growing companies that are often under-served by more traditional means of financing.”
“The home textiles sector is an industry which we have served for over 15 years,” he added. (MCJ)
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