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Stenn Provides Export Invoice Finance Facility to Manufacturer of Speciality Packaging Based in India
October 7, 2020
Digital trade finance provider Stenn International today announced the completion of an invoice finance facility for a worldwide leading manufacturer and exporter of speciality packaging materials based in India. The firm’s graphic-grade films, foils and laminates are used in gift wrap, holographic paper, and packaging for premium branded goods.
The facility supports sales to a German company that is a prominent European non-food retailer with over 2,000 stores in eight countries. The company’s stores carry everyday products including gifts, stationery, decorations and party goods, and home décor.
The exporter turned to Stenn’s cross-border trade financing to augment its existing bank facility, which was insufficient to support its export volumes. This tight cash flow situation had been exacerbated in recent months by the coronavirus pandemic.
Stenn’s non-recourse invoice financing solution offered the necessary financial support to meet the exporter’s working capital shortfall. In addition to rapid funding, Stenn’s service includes guarantee from buyer non-payment, credit risk assessment, and professional collection services.
Covid lockdowns have disrupted trade across the globe, leading Stenn to create a $500 million fund to support the recovery of cross-border trade.
Stenn’s international invoice financing is a flexible and straightforward method for exporters to optimize working capital while still granting attractive trading terms to their buyers. Exporters receive payment at the time of invoicing and shipping, while the buyer benefits from open account payment terms that allow for payment at a later date.
Media Contact: Sue Hinton, +1 917 362 4518, firstname.lastname@example.org
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.
Head of PR & Communications
Mob +1 (917) 362-4518
Add: 747 Third Avenue, 2nd Floor, New York, NY 10017
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