MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEW YORK CITY INDUSTRIES FOR THE BLIND, INC. |
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Registered Office : |
3611 14th Ave, Suite 3, Brooklyn , NY
11218 |
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Country : |
United States |
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Date of Incorporation : |
22.11.1995 |
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Legal Form : |
Not for Profit
Corporation |
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Line of Business : |
Job Training Services and
Manufactures Household Furniture. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 350,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
350,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
NEW YORK CITY
INDUSTRIES FOR THE BLIND, INC. Dba NYCIB |
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Address: |
3611 14th Ave,
Suite 3, Brooklyn ,
NY 11218, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (718) 854-7300 +1 (718) 854-2700 1975779 New York Richard Bland, President |
Date founded: |
Nov 22, 1995
Not for Profit Corporation N.A. N.A. 200 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Job training services and manufactures household furniture. |
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BANKS
European American Bank
BUSINESS
Operations:
New York City Industries
for the Blind, Inc. also does business as NYCIB.
NYCIB offers a full line of industrial janitorial products as well as FR
Blankets.
NYCIB has manufactured items for years fulfilling order to federal and
state government facilities. Product line includes:
-Wet mops,
-Dust mops,
-Brooms,
-Handles,
-Brushes, scrub brushes and dusters.
The company also offers no metal - plastic head dust mop frames - mop
handles with plastic head and fiberglass or wood handles. Cut-end or looped-end
mops.
NYCIB is also involved in the job training
services industry.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Richard Bland, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
New York City Industries
for the Blind, Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
18,000,000 |
LEGALS
0 Suits
1 Judgment in 2003 in
favour of Commissioner of Labour. Amount:
$6,402
0 Liens
1 Collection Claim Reported
0 NSF Cheques Reported
1 UCC Filing in 2006 by
European American Bank. Security &
Amount: NA
All previous UCC Filings
have been cleared.
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a medium company
working in the US.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
350,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)