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
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
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.
CONTACT YOUR BANKER.
23 April 2011
FOR MORE INFO:-
https://www.autopartsasia.com/BankingTut2_s.asp
https://www.autopartsasia.com/BankingTut2_s.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Building and other construction workers welfare cess act 1996
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
