Texora, a fast-growing Latvian company, receives factoring financing from SEB banka | SEB
Summary
Texora, a Latvian company that manufactures industrial textiles, has received a factoring loan totalling EUR 200 thousand from SEB banka. It is currently significantly expanding its activities by hiring new employees and purchasing equipment.Texora was founded ten years ago and manufactures textile products for lifting, securing, and protecting loads (ropes, slings, belts, etc.). Factoring is a suitable financial instrument to strengthen a companys cash flow at a time when it is growing rapidly and planning further growth, says Edvns Mineiis, a Board member of Texora.Factoring improves the cash flow of a growing business as it receives payments as soon as invoices are submitted. In the case of exports, this instrument also avoids the risk of exchange rate fluctuations. The company was founded by leading specialists with many years of experience in the field of industrial textiles.