Access to quick working capital enables apparel manufacturers to seize new revenue opportunities in the growing global apparel market.
SINGAPORE – Media OutReach – May 24, 2022 – Global Invoice Finance Market, Incomlend, announced a quick multi-million dollar financing solution for a China-based apparel manufacturer. The manufacturer mainly exports to retailers in the United States (US), South Africa, South America and Europe.
Among the manufacturer’s customer list is one of the world’s top 500 retailers. Based in the United States, the customer purchases garments, t-shirts and knitted sweaters from the manufacturer. The retailer accounts for a large percentage of the clothing manufacturer’s revenue, making it an important customer for the company.
It usually takes the manufacturer up to 90 days to collect an invoice. However, these extended payment terms can hamper their financial agility and significantly hamper the production of their sweaters, which can take up to three months to produce and export. Any delay in payment may cause the company to miss the seasonal jersey sales cycle.
Incomlend offers a fast financing solution allowing the manufacturer to collect an invoice as early as three days after shipment. It allows the company to access cash flow to continuously finance its operations and even increase its production capacity. This allows the manufacturer to fulfill upcoming clothing orders from existing customers and even accept orders from new customers.
According to a study by Statista, the global apparel market is expected to reach approximately US$2 trillion by 2026, with the United States and China accounting for the majority of this demand. While China tops the rankings for the highest value of apparel exports, the US is just behind the EU for the value of apparel imports.
Founded in Singapore with offices in Europe, India and Southeast Asia, Incomlend connects small and medium-sized enterprises (SMEs) around the world with communities of investors. It allows investors to buy and sell individual bills through a secure and technologically proprietary bill exchange platform. At the same time, Incomlend’s Global Invoice Finance Marketplace provides serious SMBs with the working capital they need to pursue new revenue streams.
Incomlend CEO and Co-Founder Morgan Terigi commented:
“We are seeing a revitalization of production and trade activities in the global apparel market. As the demand for apparel continues to soar, this will lead to a greater appetite for alternative financing instruments from companies looking to capitalize on the growing trend. Incomlend can help apparel manufacturers, especially in countries like China and India. We offer bespoke, competitive and non-recourse alternative working capital solutions to help them to develop their activities in the booming clothing market.
For more information about Incomlend, please visit https://www.incomlend.com/.
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Incomlend is a global invoice finance marketplace for corporate and private equity. Founded in 2016, the Singapore-based company has processed over 2,300 transactions and provides invoice financing services in over 50 countries around the world. As one of the world’s first alternative cross-border trade finance platforms, Incomlend enables companies to fund their export bills by selling them to institutional investors at a discount. For more information, visit www.incomlend.com.
The issuer is solely responsible for the content of this announcement.