In 2009, a €20m recycled paper manufacturer had the opportunity of entering new markets with orders in hand from customers in Hungary and Greece. At a time of global recession and sovereign debt crisis, the incumbent banks withdrew their support from these markets. TFS took a different approach and formed positive views on the individual debtors in these areas, advancing a substantial amount on the invoices raised.
In many countries of Europe and particularly in Greece, small producers have little chance of accessing factoring from their banks and credit insurance at acceptable rates. In 2017, our client exporting to the USA high quality wines and needing to support its distributors on 60 and 90 days terms, enjoyed our Export Finance services to guarantee payments and to expedite its cash collections.