With the Incomlend Invoice Financing Programme, SafeFlex Limited International (SafeFlex), a leading manufacturer of bulk bags in India with four manufacturing facilities, can finance and increase its production capacity to seize new growth opportunities with potential and existing buyers. SafeFlex can also focus on its expansion plan and double its production capacity to increase revenue.
The exporter is SafeFlex, a leading bulk bag manufacturer in India with four manufacturing plants across the country.
The company’s portfolio of over 500 global buyers comprises long-time buyers who are distributors and manufacturers based in developed nations such as the US, UK, and Europe.
With economies starting to recover and demand for bulk bags continuing to surge, SafeFlex is looking to double its production capacity to capitalise on the growing global bulk bag industry, which is expected to reach US$5 billion in value by 2023.
However, it traditionally takes SafeFlex up to 90 days to cash in an invoice. The extended payment terms can undermine their financial agility and limit their manufacturing output.
With Incomlend Invoice Financing Programme, SafeFlex can cash in an invoice as early as three days after its goods are shipped to the buyer.
The company has now freed up its cash flow to quickly fund their next production cycle and expand their capacity to meet new or increased orders from buyers.
Incomlend provided SafeFlex with a quick turnaround working capital solution to elevate its production capacity as part of its expansion plan.
With the Incomlend Invoice Financing Programme, the company will be able to meet rising demands for bulk bags from its buyers and have the financial agility to capture new revenue streams and grow its business.
