Letter of Credit Forum

Hello,

I have a question and I would need the point of view from bankers on this. I want to know, if a company has some amounts to be received in future, but at a certain date (in 30, 60 days, etc.) can a bank pay that amount and when the payment date comes, they take the amount back with interest? But all this without asking for any other guarantee from the client like mortgage or collateral cash.

I have some promissory notes (goods were delivered, accepted and promissory note was released for payment but with date after 60 days). I would like to cashout about 90% from the amount written on these as fast as possible. Can i make this happen? I have heard that there are some insurance companies which make insurance policies on these promissory notes, something like if the company whom issued the promissory won't payup, the insurance company will pay to the bank instead. This way the bank has guarnatee to give credit, with no other guarantees requested from the client. Is this true ? Can you tell me few names of companies and exact procedure how this works?

P.S: Promissory note is the most used payment instrument in my country, it's like a cheque (CEC) issued and endorsed by bank, not everybody can issue such promissory notes so the cases where promissory notes don't turn into cash at said date are very rare.

Can you think of any smart way to get credit in this situation? I know this question is to be asked at the bank, but there are over 50 banks avaiable and only very few of them have this product in their portofolio so asking here is more appropiate for starters. As soon as I have more information from you experts, surely I will go and discuss to all banks.

Waiting anxiously for your thoughts! Thanks in advance.