MIRA
INFORM REPORT
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Report Date : |
28.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ELEGANT LINEN COLLECTION CORP |
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Registered Office : |
2581 Richmond Terrace Staten Island, New York, 10303. |
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Country : |
United States |
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Date of Incorporation : |
27.04.2006 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Linen distributors. |
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No. of Employees : |
21 |
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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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: USD |
IDENTIFICATION
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Ordered as: |
Elegant Linen Collection Corp |
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Address in the order: |
2581 Richmond Terrace Staten Island NY 10303 |
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Legal Name: |
ELEGANT LINEN COLLECTION CORP |
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Legal Address |
2581 Richmond Terrace Staten Island, New York, 10303. |
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Operative Address |
2581 Richmond Terrace Staten Island, New York, 10303. |
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Telephone: |
+1 (718) 761-7585 / +1 (718) 761-7586 |
ID : |
3353979 |
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Fax: |
+1 (718) 761-7580 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
New York |
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Website: |
Date Created: |
2004 |
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Manager: |
Karam Eshak Khalil, President and CEO |
Date Incorporated: |
April 27th, 2006 |
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Staff: |
21 |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Linen distributors. |
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BANKS
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Name of the Bank |
Capital One Bank |
BUSINESS
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HISTORY |
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The company was founded in the year 2004. |
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PRINCIPAL ACTIVITY |
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The company is categorized under Linen importer and distributor. |
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Sales are: |
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Wholesale, Retail |
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Clients: |
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General clientele Various industries. |
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Operations area: |
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National, Local |
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The company imports from Egypt, Portugal and India |
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The subject employs 21 employee(s) |
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Comments on staff: |
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This information was not confirmed with the staff. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at 2581 Richmond Terrace Staten Island,
New York, 10303. |
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Branches: |
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The company has a warehouse in Las Vegas Nevada. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a privately held company. Karam Eshak Khalil is the company's
main shareholder. |
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Management: |
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Karam Eshak Khalil, President and CEO |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Karam Eshak Khalil, President and CEO who provided
us with the following data: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
2,000,000 |
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The cash flow is |
Normal |
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Legal Fillings |
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There is one UCC** files listed
with the Secretary of State of New York. 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 sized company with 21 employees and 8 years of
experience. Due to the nature of its business the company has a solid business
relation with their suppliers. There were no legal filings found against the company or its legal
representatives. According to the financial data provided by the owner, the income per
employee is just fair for its size. At this point, we consider a credit line in the range of USD 30,000 |
SUMMARY
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Karam Eshak Khalil |
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Position |
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President CEO and owner |
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Comments |
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He provided us with the following information: Staff Payment trend countries where they import from Revenue for 2010 Bank that they work with Location of its warehouse. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.05 |
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 |
-- |
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.