MIRA INFORM REPORT
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Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
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Name : |
BUY SMART, INC. |
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Registered Office : |
2612 Wilco Boulevard 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 |
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RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100 USD = 70 EUR |
IDENTIFICATION
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Ordered as: |
Buy Smart Inc |
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Address in the order: |
2612, Wilco Blvd, Wilson NC 27893 |
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Legal Name: |
BUY SMART, INC. |
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Trade Name: |
First Choice Equipment, First Choice |
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Legal Address |
2612 Wilco Boulevard S Wilson, NC 27893-9022, USA |
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Telephone: |
+ 1 (252) 293-4700 |
Document Number : |
0488450 |
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Fax: |
+ 1 (252) 293-4703 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
North Carolina |
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Website: |
Date Created: |
NA |
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Manager: |
Pieter Van Den Berg, President |
Date Incorporated: |
March 18, 1999 |
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Staff: |
9 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesaler of farm and garden machinery |
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BANKS
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Name of the Bank |
BRANCH BANKING & TRUST CO |
BUSINESS
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PRINCIPAL ACTIVITY |
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Buy Smart, Inc. is a private company located in Wilson, North
Carolina. The company is also doing business as First Choice Equipment, First
Choice. Buy Smart, Inc's line of business is wholesaler of farm and garden
machinery. This is an established company with several years of experience. The structure has international business partners. We called the company. The receptionist was able to confirm the
company's location and activity. |
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Products/Services description: |
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Hay Rakes, Rotary Plows, Cast Iron, Computer Aided Testing (CAT), Box Scrapers,
Weight Grading Machinery, Disc Mower Conditioners, Construction Plant or
Equipment, Agricultural Machinery or Equipment or Implements, Blades,
Construction Mixers, Earth Moving Equipment, Aeration Equipment, Concrete
Mixers, Cultivators, Rotary Cutters, Cutting to Length Machines, Disks,
Fertilizer Spreaders, Funnel Support and Stands available from Buy Smart Inc
based in Wilson, NC. |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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Trade References: |
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The company's trade references were not confirmed with the staff. |
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The subject employs 9 employee(s) |
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PAYMENTS |
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regular |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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Pieter Van Den Berg, Main Shareholder. |
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Management: |
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Pieter Van Den Berg, President. |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. However our financial sources could
provide us with the following information: |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
1,700,000 |
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Operating Income |
62,000 |
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Net Income |
55,000 |
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Net worth |
150,000 |
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Bank liabilities |
40,000 |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
1,400,000 |
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Comments on the financial data: The company's turnover for 2010 is
believed to be in the same range with the one for the previous years. |
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Legal Fillings |
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There are no recent UCC** files
listed with the Secretary of State. There are no legal filings listed with the District Court. THE COMPANY IS NOT LISTED ON THE OFAC LIST.* For information: * The Specially Designated Nationals (SDN) List is a publication of
OFAC which lists individuals and organizations with whom United States
citizens and permanent residents are prohibited from doing business. ** The Uniform Commercial Code (UCC) is one of a number of uniform
acts that have been promulgated in conjunction with efforts to harmonize the
law of sales and other commercial transactions in all 50 states within the
United States of America. The UCC deals primarily with transactions involving personal property
(movable property), not real property (immovable property). It allows a creditor to notify other creditors about a debtor’s assets
used as collateral for a secured transaction by filing a public notice
(financing statement) with a particular filing office. The Uniform Commercial Code Bureau files and maintains on financial
obligations (including IRS liens) incurred by individuals (in business as a
sole proprietor), business entities and corporations. |
Rating
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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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Final Opinion |
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This is a small company with experience in this industry. No specific adverse record has been found on the business. We did not found any information threatening the company's
creditworthiness. We estimate that the company can bear a credit line. A business connection can be conducting. A review within 8 months for monitoring purposes is advised. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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The receptionist confirmed the company's location and activity. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.03 |
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UK Pound |
1 |
Rs.74.43 |
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Euro |
1 |
Rs.64.75 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.