MIRA INFORM REPORT

Report Date :

18.06.2011

IDENTIFICATION DETAILS

Name :	THE PERSIAN CARPET INC

Registered Office :	5634 Chapel Hill Blvd, Durham NC 27707

Country :	United States

Date of Incorporation :	17.02.1977

Legal Form :	Corporation for Profit

Line of Business :	Rug Saler

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 25,000.

Status :	Small Company

Payment Behaviour :	Usually Correct

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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	The Persian Carpet
Address in the order:	5634 Chapel Hill Blvd Durham, N.C. 27707

Legal Name:	The Persian Carpet INC

Legal Address	5634 Chapel Hill Blvd Durham NC 27707 USA

Telephone:	+1 (919) 489-8362	ID :	0112541
Fax:	+1 (919) 489-8362	Legal Form:	Corporation for Profit
Email:	NA	Registered in:	North Carolina
Website:	http://www.persiancarpet.com	Date Created:	1976
Manager:	Nelda Lay, President	Date Incorporated:	February, 17th. 1977
Staff:	10	Stock:	100,000
		Value:	1 par value
Activity:	Rug saler

BANKS

Name of the Bank	CENTRAL CAROLINA BANK AND TRUST CO
Name of the Bank	SUN TRUST BANK

BUSINESS

PRINCIPAL ACTIVITY
	Rug saler
Products/Services description:
	The company is engaged in providing the following products and services: Arts and Crafts Rugs Kelims Antique Reproductions Caucasian Carpets Gabbeh Rugs Needlepoint, Aubusson, and Savonile Modernist Collection Persian Antique Carpets Round and Square Rugs Tibetan and Contemporary Turkish Tapestries Transitional Rugs Discounted Rugs
Sales are:
	Wholesale, Retail
Clients:
	Miscellaneous
Suppliers:
	The person contacted refused to provide the name of the suppliers for us to check trade references.
Operations area:
	National, International
The company imports from Asia, etc.
The company export to worldwide, depending on the demand.
The subject employs 10 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at the address listed above.
Branches:
	The company has no branch locations.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. It is owned by the Lay family.
Management:
	Nelda Lay, President

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted the operator of the company, who refused to provide us any financial data without knowing the name of the inquiring party.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
USD	2010
Turnover	1,400,000
The cash flow is	Normal

Legal Fillings

There are 4 UCC** files listed with the Secretary of State of North Carolina.

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

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.

Final Opinion

This is a small sized American company which employs 10 people and has 35 years of experience in the market.

There were no legal filings found against the company or its legal representatives.

It is a family owned business.

The income per employee remains pretty fair for the company's size.

A credit line may be considered for USD 25,000.-

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Position
	Operator
Comments
	The person contacted refused to provide us any information on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.93
UK Pound	1	Rs.72.43
Euro	1	Rs.63.62

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.