London – April 8, 2020 – Stenn is pleased to announce a seven-figure trade receivables finance program with a wine producer based in Argentina that exports premium wine to Europe, USA, Asia and Latin American markets. This new financing program is being used to free up working capital and to support sales expansion to large distributors.
This world-renowned winery in Mendoza, Argentina, engaged with Stenn to receive payment at the time of invoicing and shipping of goods, a liquidity solution that provides flexible working capital at a time when supply chains around the world are under stress. Importers still benefit from open account payment terms that allow for payment at invoice due date for their wine purchases. In this way, Stenn’s program provides liquidity to both parties in the trading relationship.
Francisco Borgonovo, Latin America Business Development Director, Strategic Accounts at Stenn, commented, “We would like to extend a very special thanks to Mr. Pablo Carbo, the program introducer. Argentina is the fifth-largest wine producing country in the world, and it was a pleasure to work with the winery’s finance team on this facility to facilitate exports of fine Argentinian wine.”