TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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March 23, 2021
Source: Express Trade Capital Inc.
Express is thrilled to announce and fossilize the completion of a $9,700,000 standby letter of credit (SBLC) facility. The facility fueled a commodity trader’s purchase of petroleum from a Canadian supplier. The facility was executed early in the first quarter of 2021 and covers ongoing shipments over a 12-month period.
While the client has been in the business since 2010, it is was his first transaction with the new supplier. Due to lack of history between the parties, the supplier requested financial backing for the whole transaction. The client was over a barrel and petrified. With negotiations running out of gas and the transaction unraveling, Express slid in to grease the tires and get this oil deal flowing again.
The SBLC facility refined the client’s overall position in the transaction by allowing them to forego pre-shipment cash deposits, thus lowering supply chain risk and increasing cashflow. The client was pumped to get their deal back on the road and looks forward to extracting more lucrative petrol deals in the future.
Operating since 1993, Express Trade Capital, Inc. provides tailored financial products including Factoring, Purchase Order Funding, and Letter of Credit facilities. Our Freight Forwarding division also provides supply chain management through our comprehensive international freight forwarding services. For more information on how we can help your business grow, please visit us at https://www.expresstradecapital.com/contact or contact Slava Vernidub at slava@expresstradecapital.com
