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The textile industry is a constantly growing market and it is of great importance in the world economy. Countries such as China, United States, and India are the main producers, exporters and importers of textiles, cotton and clothing. Colombia is no exception, its textile industry is recognized worldwide for its quality, creativity and competitiveness of products, factors that have positioned it in the international market.
It should be noted that, within this industry, yarn is one of its main products. They are used to produce a wide variety of fabrics, garments, footwear, and other fundamental pieces for clothing, home, technical apparel, and industrial fabrics.
International Factoring for the textile industry
Factoring has been used by textile companies throughout history to finance their operations. In fact, the history of factoring dates back to the industrial revolution, during which textile businessmen used factoring to finance their businesses.
Today, much of the textile industry is increasingly using factoring to improve the efficiency of the supply chain, optimizing the production and distribution process. Factoring allows businessmen to access early payment of their invoices to maintain their cash flow and, to the extent possible, to grow, invest, and meet their payment commitments.
In Colombia, the textile industry has shown significant growth in recent years. The manufacture of textile products is an important branch generated by companies that continue to bet on the national and international market, such as Prohesa S.A.S., recognized as one of the largest producers of special yarns in the country.
Prohesa S.A.S. is a Colombian company founded in 1987, specializing in the processing and dyeing of polyester, nylon and cotton yarns, widely used in the textile industry for clothing, upholstery, sporting goods, among others. The company has state-of-the-art machinery for the production and dyeing of yarns, which enables it to offer high quality products.
Mutuo Capital is the International Factoring company that accompanies enterprises such as Prohesa S.A.S. in the payment of their international invoices, in order to continue generating stability and projection in their businesses.
Mutual Capital for textile industry
Factoring is a financial tool that has gained ground in the textile industry, especially in Colombia. “According to the World Factoring Yearbook 2020, the country ranks among the nations with the highest growth of factoring in Latin America, with an increase of 12.9% of operations of this type” (www.latinpymes.com/factoring).
Mutuo Capital provides the financial operations to help your textile company achieves national and international success with your apparel, accessories, and clothing lines. By factoring accounts receivable with business factors, you get the money when you need it, allowing you to keep your business moving forward.
Find out more about the exact process of International Factoring! Contact us.