|
What size of Contracts can be financed? |
| PHI
secures Foreign Buyer Financing generally for export transactions
in the range of at least $250,000 to $10,000,000. We are however
prepared to consider both smaller and larger deals on a "case
by case" basis. |
| What
type of information is typically required to secure financing? |
- Brief Description
of the Project: Provide a brief summary of the
organization and management team, and a general outline
highlighting how the funds will be used on a particular
project, i.e. for what equipment, parts and supplies.
- Financial
statements: Financial statements or annual reports
are required for the past three fiscal years. Statements
must be in presented in a format in accordance with generally
accepted accounting principles such as GAAP.
- Credit
Bureau Report: the Foreign Buyer should be prepared
to provide a recent credit report which shows that the
foreign buyer has been in business for a minimum of three
(3) years, and have favorable bank and supplier credit
ratings.
- Trade
References and Bank References: References letters
should be presented on the Trade Reference's Corporate
Letterhead, or in the case of a Bank Reference, on the
Bank's Letterhead. The reference letter should include
complete details concerning supplier lines of credit,
credit experience or borrowing facilities granted.
- Personal
Guarantee: The personal guarantees of the principle
shareholders of the firm is generally required for companies
with annual revenues of less than fifty ($50) million
in annual revenues.
|
| How
long will it take to secure funding? |
| Typically
when a complete set of documents and financial statements
are presented to the Lender for review and analysis, the approval
process can be completed within 45 days or take as long as
180 days. |
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