The Management Board of Answear.com SA announces that on 8 September 2022, the company concluded a supply chain finance (SCF) agreement with Santander Factoring Sp. z o. o., with registered office in Warsaw, Poland.
The SCF agreement will allow the suppliers of the company to get finance, based on their invoices against Answear.com, in three different currencies: PLN, EUR, USD.
The agreement is secured by an irrevocable power of attorney to the Answear.com bank account in Santander Bank Polska SA and a statement of submission to execution in the form of a notarial deed.
The finance line of the SCF agreement amounts PLN 10m (EUR 2.13m) and will expire on 31 of August 2023.
