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How do I get a loan or incial capital with a letter of credit?

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Wed, 07/23/2008 - 13:43
gabriel84
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Here is deal: I'm the middle-man of a transaction between Brazil and Spain. (I'm in the USA though)

I buy goods from Spain for Brazilian custumers with thier money and keep my profit.

I need to get paid first from this Brazilian custumer so I can buy the goods from Spain, ship it out and keep my profit.

Now this Brazilian custumer wants to give me a LETTER OF CREDIT saying that his bank will only release the payment when the goods get in Brazil. In the other hand the factory from Spain won't ship the goods if they aren't fully paid.

Question is: How am I going to pay the Spanish factory production if all I have is a Letter of Credit on my corporation's name?

Who would do this type of service? What is this type of deal called?

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Sat, 07/26/2008 - 14:05
#1
admin
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Joined: 05/06/2007
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getting a loan with confirmed LC

Look at

http://internetlc.com 

(from our resource page). 

They fund LCs after confirmation. All you need is a confirmed LC and they start giving you money. 

Admin

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Sat, 07/26/2008 - 19:43
#2
gabriel84
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Joined: 07/23/2008
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Okay but..

Nice to know that! "they start giving you money" who are they? Is it my bank or some other loan institution? thanks!

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Mon, 07/28/2008 - 11:53
#3
admin
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Confirmed LC as collateral for loan

InterNetLC.com, LLC is a company, funded by private investors, that will loan you money using the confirmed LC as collateral.

I have met the CEO John Dunlop and he knows the business.

(John, for this kind of praise I should get a commission ;) )

Anyway, give him a call, phone number is on the website of internetlc.com.

 

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Wed, 07/23/2008 - 18:32
#4
VV
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Joined: 03/05/2008
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Pre-shipment Loan

Hi !

You may ask your banker whether they can provide the pre-shipment to you with the lien on your L/C.  The loan may be called "Packing loan", "P.O. loan", etc.  But first of all you must have a credit line for the loan.  Be reminded that in case of L/C non-payment, you have to repay the loan by debit your own account.

Hope it may help!

V.V.

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Thu, 07/24/2008 - 10:58
#5
gabriel84
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Thank you

It really helped, thank you.

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