credit facilities

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2011 Dear All,

I m a garment exporter and in some trouble. Need your help, if u can advise me something.

I m a garment exporter. I have got a lc from overseas bnk. standchart. its transferable lc which a local buying house has transfered to me. Its lc at sight.

I m looking for some packing cerdit to make the goods but my bank is not supporting me. Can u pls advise, is there any way to get such fcilty or funds.

Problem is , i dont have any collatral and my last year turnover is just 36 lacs ITR filed with net profit of 1.6 lac only. But for this last financil year turnover will be 65 lacs.But in hnd orders are morethen 50 lacs. and i need minimum 15-20 lacs.I m ready to buy ECGC policy to secure funds to bank . MOreover can even pay good interest

CAn u pls suggest anything

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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23 April 2011 avail of pre-shipment financing is that the Exporter should have a credit facility in place with a bank. IN INDIA Each bank has a credit process that determines the amount of funding the bank can give the company.

CONTACT YOUR BANKER.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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23 April 2011 FOR MORE INFO:-

https://www.autopartsasia.com/BankingTut2_s.asp

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