Canadian Solar, one of Canada’s leading suppliers of solar panels has agreed the sale of solar panels to its existing customer, Brazilian based company CEJ Construcoes, Engenharia E Geração De Energia Ltda.
Canadian solar has over 12,000 employees across 20 Countries and 6 continents and specializes in providing clean, safe and affordable solar energy to international market.
The Challenge:
The buyer’s available liquidity restricted its purchasing power, which was impeding its ability to secure a larger deal with the Canadian exporter. This was primarily because of the buyer’s continued success in scaling its business, evidenced by increasing orders and revenue. In an effort to secure this larger purchase order the Canadian exporter turned to Elevate Export Finance Corp for support.
Solution:
Elevate engaged the buyer fast and efficiently, providing a quoted solution within 48 hours. The offer was attractive and accepted by the buyer.
Elevate provided a five-year term loan for USD ~$700,000.
The result:
Elevate’s team of integrated, international experts, led by Chief Business Development Officer, Francisco Garcia; Brazilian brokerage specialist, Rodrigo Fernandes de Feitas; and Elevate President, Ed Walsh made it easy for the exporter and buyer to conclude their business. In addition, the team was able to quickly facilitate, underwrite and obtain EDC approval. The buyer had freed up capital and with access to Elevate’s finance options were able to make the larger purchase and supply their new customer.