Loans for business..

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mohanpc

Registered Users (C)
Hi

I am starting an Import & Export business. I will be exporting products to india. I will be acting like a mediator. So When I get a request for export of a product to India, I find sellers here in USA and book the order. The Indian company sends me "Irrevocable letter of credit" on my company name.

My question, I need to pay to the USA supplier once he loads the ship. So will I be able to get loan using "Irrevocable letter of credit" in USA and pay the supplier. Then I can pay the loan giver using the payment I receive from the Indian bank that has issued "Irrevocable letter of credit". If this scenario is possible, can you please suggest lender names...

Thanks
Chandra
 
If it is not Irrevocable Letter of Credit, then the terms and conditions of a Revocable Letter of Credit can be changed by the issuing bank at any time without notice for its own reasons, and therefore cannot be confirmed as good and payable. It's impossible to guarantee that any financial instrument whose conditions of payment can be changed without notice will be payable at any given time.
 
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