MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOUTHERN MARKETING AFFILIATES INC |
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Registered Office : |
2415 Industrial
Dr, Jonesboro, AR 72401-6679 |
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Country : |
United States |
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Year of Establishment : |
1964 |
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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: |
SOUTHERN
MARKETING AFFILIATES, INC. Dba S M A |
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Address: |
2415 Industrial
Dr, Jonesboro, AR
72401-6679, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (870) 935-3291 + 1 (800) 643-0091 100047953 Arkansas Rodger Hurt, President |
Date founded: |
1964 Corporation for profit N.A. 65 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
FIRST COMMUNITY BANK
LIBERTY
BANK OF ARKANSAS
BUSINESS
Operations &
Business:
Southern Marketing Affiliates, Inc. also does business as S M A.
Southern Marketing Affiliates, Inc. is a private company headquartered
in Jonesboro, Arkansas. S M A'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
directors of the company are:
Rodger
Hurt, President,
Mark
Zimmer, Vice-President,
Jane
Mote, Secretary.
They
are also the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Southern Marketing Affiliates 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 |
10,800,000 |
There is no legal filling listed with the District Court.
There several active UCC files in favor of banks and financial
institutions listed with the Secretary of State of Arkansas.
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 |
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%)