Supply chain finance program allows a Mexico-based seafood importer and distributor to improve working capital.
DELRAY BEACH, FLA. – Trade finance provider Harbor announced the closing of a syndicated supply chain finance program for a seafood processing facility and distributor in Quintana Roo, Mexico. The program is managed on the HarborTrade platform and is being funded by Harbor and Kampala Capital.
The company’s procurement activity is both domestic and international and includes a variety of species including octopus, fish, lobster, and sea cucumber; however an average transportation time of 45 days from foreign suppliers adversely affects the business’s cash conversion cycle. With Harbor’s supply chain finance program in place, suppliers are paid at shipment and the buyer enjoys extended payment terms, allowing them to process goods and get them to market.
“As we expand our presence in Mexico, we are pleased to structure this syndicated SCF program with Kampala, improving cash flow and accelerating the growth of our client’s business,” said Bryan Maloney, CEO, Harbor.
Harbor is a trade finance provider offering working capital solutions for businesses involved in cross border trade. Their programs include supply chain finance, receivables finance and inventory finance – end to end solutions covering the entire cash conversion cycle.
Harbor’s proprietary platform makes trade finance more streamlined and accessible for small and middle market businesses. In addition to working capital, the HarborTrade platform offers automation tools to improve visibility and operational efficiency among trading partners.
Harbor facilitates trade both domestically and internationally with offices and representatives in Miami, Los Angeles, New York, Hong Kong, Netherlands, Germany, and Mumbai.