by Sourcing Journal
Stenn International Ltd. is providing major financial assistance to global supply chain affiliates.
The London-based finance provider launched a $300 million international trade platform to assist global suppliers and their buyers with market expansion. The platform’s capital will be issued by Stenn and New York- based alternative asset management firm, Crayhill Capital Management LP.
“Our new $300 million platform will help Stenn achieve a critical goal: becoming the first choice for funding among SME exporters in Asia who wish to serve the global market for consumer goods,” said Stenn International’s Executive Chairman, Greg Karpovsky. “We are filling a market niche that has largely been abandoned by banks, which are retreating from financing smaller manufacturers in emerging markets due to rising regulatory capital costs and more onerous compliance requirements.”
The new platform will provide flexible short-term funding to world suppliers, particularly those in Asia. By acquiring 120-day receivables from these small-to-medium enterprises (SMEs), the platform will financially support them in their production and export processes with other global buyers.
With Stenn’s assistance, SMEs don’t have to go through delays and uncertainty of payment collections from buyers, since the platform offers payment for goods right after shipment. Most of Stenn’s clients are in the consumer goods sector, including those that manufacture apparel and shoes.
Read full article.
About Stenn International Ltd.
Stenn International Ltd. is a UK-based, non-bank trade finance provider specialized in cross-border trade. Stenn’s trade finance solutions are comprehensive and can be combined to cover the entire supply chain from purchase order to delivery of goods. Innovative practices allow Stenn to finance in sectors and geographic regions currently unserved in global trade. The company operates globally with offices in Los Angeles, Dallas, New York, London, Hamburg, Stuttgart, Singapore, Hong Kong, Shanghai, Guangzhou and Chongqing. Learn more at www.stenn.com or follow us on LinkedIn, Twitter and Facebook.
Media Contact for Stenn International Ltd.