MIRA INFORM REPORT

 

 

Report Date :           

27.05.2011

 

IDENTIFICATION DETAILS

 

Name :

DIRECT DISTRIBUTORS INC (AGRI SUPPLY)

 

 

 

 

Registered Office :

632 Us Highway 70 W, Garner, NC 27529-3671

 

 

 

 

Country :

United States 

 

 

 

 

Date of Incorporation :

07.05.1970

 

 

 

 

Com. Reg. No.:

0041583

 

 

 

 

Legal Form :

Corporation for Profit

 

 

 

 

Line of Business :

Retailer of Miscellaneous Merchandise

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 70 000

Status :

Satisfactory

Payment Behaviour :

Regular

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Direct Distributors Inc

Address in the order:

Highway 70E Po Box 799 Garner North Carolina 27529 USA

 

 

Legal Name:

DIRECT DISTRIBUTORS INC (AGRI SUPPLY)

Trade Name:

AGRI SUPPLY

Legal Address

632 Us Highway 70 W, Garner, NC 27529-3671

USA.

 

 

Telephone:

+1 919 772-8625

Registration Number :

0041583

Fax:

+1 919 772 3435

Legal Form:

Corporation for Profit

Email:

N.A

Registered in:

North Carolina

Website:

www.agrisupply.com

Date Created:

1962

Manager:

Barry Partlo, President

Date Incorporated:

May 7, 1970

Staff:

30

Stock:

1,000,000

 

 

Value:

1 par value

Activity:

Retailer of Miscellaneous Merchandise

 

 

BANKS

 

Name of the Bank

BANK OF AMERICA

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Agri-Supply offers a huge selection of farm supplies, hand and power tools, and lawn and garden supplies.

 

The subject company does business on the American market.

 

 

Sales are:

 

Retail

Operations area:

 

National, Local

The company imports from Asia, South America

The company does not export

The subject employs 30 employee(s)

PAYMENTS

 

made on a 60 days basis - monitored over the last 12 months

Branches:

 

The company sells its products on line and through seven retail stores.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The subject company is privately held. Barry Partlo is one of the main shareholders.

Management:

 

Barry W Partlo, President

Natalie Partlo, Secretary

Karl Hymel, Vice President

Michelle Hallman, Accountant



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Mrs. Hallman, accountant who refused to provide us any financial data on grounds of confidentiality.

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

 

Those figures are estimated :

 

 

Currency

DATE

USD estimate

2010

Turnover

3,000,000

The cash flow is

Normal

 

 

Currency

DATE

USD

2008

Turnover

2,500,000

The cash flow is

NORMAL

 

 

Legal Fillings

 There is one active UCC file listed with the Secretary of State of North Carolina.

 

 

For information:

 

 

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 good credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

Our final opinion:

 

The company has been in operations for 47 years.

It has 30 employees, for this reason it is considered as a small sized company.

 

Profitability is correct, Cash is sufficient, and Payments are regular.

 

Therefore a credit line may be considered.

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

NORMAL

 

 

 

 

ADVISED CREDIT

USD 70 000

 

APPENDIX

 

Person Interviewed

 

Mrs. Hallman

Position

 

Accountant

Comments

 

We have contacted Mrs. Hallman, accountant who refused to provide us any financial data on grounds of confidentiality.

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.29

UK Pound

1

Rs.73.84

Euro

1

Rs.64.18

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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