Stenn Closes Trade Finance Program Maritime Wire and Cable Firm in the USA

Stenn recently concluded a seven-figure trade receivables finance program for a US importer of wire and cable used in the maritime sector. The firm imports from suppliers in Canada and China.

“We are pleased to develop a trade financing program that meets the working capital needs of this importer as well as its suppliers,” said Peter Clement, Business Development Director, Strategic Accounts.

Receivables financing is a flexible and straightforward method for importers and their suppliers to optimize working capital and strengthen their relationships. In importer-led receivables financing, the importer acts to introduce the solution to its suppliers, who are the actual clients of the finance company. Suppliers receive payment at the time of invoicing and shipping, while the importer benefits from open account payment terms that allow for payment at a later date.

About Stenn

Stenn International Ltd. is a UK-based data and financial technology company providing flexible financing to companies engaged in cross-border trade. Stenn’s trade finance solutions may be secured and managed online, speeding up access to liquidity for export suppliers while allowing import buyers to purchase on open account terms. These innovative practices allow Stenn to finance in sectors and geographic regions currently underserved in global trade. Stenn operates globally with offices in the UK, Europe, Asia and the Americas. Learn more at stenn.com.

For more information, please contact Peter Clement, Business Development Director, Strategic Partnerships, +1 (914) 393-3775, peter.clement@stenn.com.