MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BUY SMART INC |
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Registered Office : |
2612 Wilco Blvd
S, Wilson, NC 27893-9022 |
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Country : |
United States. |
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Date of Incorporation : |
18.03.1999 |
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Legal Form : |
Corporation for profit |
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Line of Business : |
Wholesaler of Farm and Garden Machinery |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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: |
BUY
SMART, INC. |
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Address: |
2612 Wilco Blvd
S, Wilson, NC
27893-9022, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (252) 293-4700 + 1 (252) 293-4703 0488450 North Carolina Pieter Van Den Berg, President |
Date founded: |
3/18/1999 Corporation for profit N.A. 9 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesaler of
farm and garden machinery |
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BANKS
BRANCH BANKING & TRUST CO.
BUSINESS
Operations &
Business:
Buy Smart, Inc. is a private company located in Wilson, North Carolina. Buy
Smart, Inc's line of business is wholesaler of farm and garden machinery.
Industry Overview:
The distribution of farm and garden equipment in the US is handled by
about 1,400 wholesalers and 5,000 dealers, with combined annual revenue of $40 billion.
The typical distributor is privately held and has less than $10 million in
annual sales. The industry is fragmented: the 50 largest distributors hold
about 35 percent of the market. Only a few distributors operate more than one
location.
Demand is driven by the health of the farming sector, which is tied to
crop prices. The profitability of individual companies depends on good
merchandising and efficient operations. Large distributors have few economies
of scale but can offer customers a wider range of products. Small distributors
can compete successfully by holding exclusive territory rights to popular
products. The industry is only moderately automated: average annual sales per
employee are about $350,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Pieter
Van Den Berg, President.
He
is also the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Buy Smart, 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 |
1,400,000 |
There is no legal filling listed with the District Court.
There is no active UCC file listed with the Secretary of State of North Carolina.
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 RECORDS PAYMENTS |
See above regular |
LOCAL AGENCY
FURTHER INFORMATION
FURTHER DETAILS:-
Company Profile
From their conception in 1999 they have modeled their company to offer products worthy of the label "First Choice", not only on the machines but also on parts.
Their part prices are typically much lower than their
competition. At this time, they believe that their business model is the
most efficient and offers the lowest cost in the equipment industry. Their
spectacular growth supports that and as a result they are presently the fastest
growing equipment company in the industry.
The Products they manufacture are as follows:-
· Concrete Mixer
· Disc Mowers
· Fertilizer Spreaders
- Spin spreaders
- Pendulum Spreaders
· Grooming Mowers
· Hay Rakes
- Wheel Rake
· Hay Tedders
· Rotary Tillers
· Sickle Bar Mowers
· Power Harrows
· Bale Wrappers
Contact Details:-
Buy Smart Inc
2612 Wilco Blvd.
Wilson, NC 27893
Tel No.: 888-945-3102 / (252) 293-4700
Fax No.: 252-293-4703
Toll Free Phone : (888) 945-3102
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%)