Cabinet Exporter Secures €2.5M Credit Line From MODIFI

MODIFI is thrilled to announce a new partnership with a vanity and kitchen cabinetry manufacturer, located in India, that specializes in high-end interior craftsmanship and design consultation. Using state-of-the-art equipment, materials, and manufacturing processes, they have built a reputation as a global leader.

One impact of the trade war between the US and China has been migrating opportunities from Chinese to Indian exporters. MODIFI recognized the clients immense growth potential and, within days, had set up credit lines for the exporter to effectively manage working capital and take advantage of these growth opportunities.

Although the exporters superior products had ignited business growth, they needed more working capital upfront to fulfill additional orders. Before partnering with MODIFI, they were reliant on conventional banking and financial institutions to secure sufficient capital. Limited credit and their unconventional trading structure was hampering the company's expansion, so they contacted MODIFI.

They needed an additional line of credit that could be secured through a straightforward process that would provide them with the immediate liquidity they required to hit their business goals. MODIFI's seller finance fit the bill perfectly. Ultimately, MODIFI were able to structure a financial line despite the complex deal structure, that involved Delivered Duty Paid (DDP) Incoterms, mitigating the risk factors and setting up a process to fund the company against their Bill of Lading.

The company's CEO said "The DDP Incoterm mean we pay the delivery costs to the destination, and we have to pay for export and import formalities, duties, fees, and taxes. The entire delivery process happens at our own expense and risk. MODIFI was one of the only financiers out there that could work with our request for an additional credit line that mitigated the risks and enabled business growth. We are delighted that they have been able to support us"

MODIFI's Regional Head in India, Ankit Goel, said, "At MODIFI, we go above and beyond to provide flexible financing by leveraging digital solutions. We work with small, mid-sized, and large companies internationally to promote business growth and simplify trade deals. The entire process is paperless, hassle-free, and secure. If you want to learn more about digital trade financing, contact one of our representatives at anytime."

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Elena Ermishina
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