April 23, 2020 – Stenn recently concluded a trade receivables finance program for a trading company based in the United States that sources electronics goods from Canada, Dubai and Mexico. The financing program is being used to augment existing bank lines and for ready liquidity to take advantage of unplanned opportunities.
Stenn’s accounts receivable finance program provides working capital to both parties in a cross-border trading relationship. The supplier of goods receives 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.
Peter Clement, Business Development Director, Strategic Accounts at Stenn, commented: “In the current economic climate, timely payment is critical to trading relationships. Suppliers need to be assured of payment, while importers need time to manage their inventories and sell goods. We would like to extend a very special thanks to Menashe Rosenberg of Issac Gancfried & Associates, our introducer on this transaction.”