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Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
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Name : |
EXCLUSIVE FABRICS & FURNISHING LLC |
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Registered Office : |
203 Rickenbacker Circle, Ste A, Livermore, CA 94550 |
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Country : |
United States |
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Date of Incorporation : |
03.01.2006 |
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Legal Form : |
LLC |
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Line of Business : |
Importer and wholesaler fabrics and home furnishing |
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No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but 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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED STATES - ECONOMIC
OVERVIEW
The US has the largest and most technologically powerful
economy in the world, with a per capita GDP of $49,800. In this market-oriented
economy, private individuals and business firms make most of the decisions, and
the federal and state governments buy needed goods and services predominantly
in the private marketplace. US business firms enjoy greater flexibility than
their counterparts in Western Europe and Japan in decisions to expand capital
plant, to lay off surplus workers, and to develop new products. At the same
time, they face higher barriers to enter their rivals' home markets than
foreign firms face entering US markets. US firms are at or near the forefront
in technological advances, especially in computers and in medical, aerospace,
and military equipment; their advantage has narrowed since the end of World War
II. The onrush of technology largely explains the gradual development of a
"two-tier labor market" in which those at the bottom lack the
education and the professional/technical skills of those at the top and, more
and more, fail to get comparable pay raises, health insurance coverage, and
other benefits. Since 1975, practically all the gains in household income have
gone to the top 20% of households. Since 1996, dividends and capital gains have
grown faster than wages or any other category of after-tax income. Imported oil
accounts for nearly 55% of US consumption. Crude oil prices doubled between
2001 and 2006, the year home prices peaked; higher gasoline prices ate into
consumers' budgets and many individuals fell behind in their mortgage payments.
Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures
more than doubled in the same period. Besides dampening the housing market,
soaring oil prices caused a drop in the value of the dollar and a deterioration
in the US merchandise trade deficit, which peaked at $840 billion in 2008. The
sub-prime mortgage crisis, falling home prices, investment bank failures, tight
credit, and the global economic downturn pushed the United States into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, in October 2008 the US Congress established a $700
billion Troubled Asset Relief Program (TARP). The government used some of these
funds to purchase equity in US banks and industrial corporations, much of which
had been returned to the government by early 2011. In January 2009 the US
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012 the federal government reduced the growth of spending
and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the budget deficit and public debt. Through 2011,
the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform that was designed to extend coverage to an additional 32
million American citizens by 2016, through private health insurance for the
general population and Medicaid for the impoverished. Total spending on health
care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In
July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer
Protection Act, a law designed to promote financial stability by protecting
consumers from financial abuses, ending taxpayer bailouts of financial firms,
dealing with troubled banks that are "too big to fail," and improving
accountability and transparency in the financial system - in particular, by
requiring certain financial derivatives to be traded in markets that are
subject to government regulation and oversight. In December 2012, the Federal
Reserve Board announced plans to purchase $85 billion per month of
mortgage-backed and Treasury securities in an effort to hold down long-term
interest rates, and to keep short term rates near zero until unemployment drops
to 6.5% from the December rate of 7.8%, or until inflation rises above 2.5%.
Long-term problems include stagnation of wages for lower-income families,
inadequate investment in deteriorating infrastructure, rapidly rising medical
and pension costs of an aging population, energy shortages, and sizable current
account and budget deficits - including significant budget shortages for state
governments
Source
: CIA
Company name: EXCLUSIVE FABRICS & FURNISHING LLC
Address: 203 Rickenbacker Circle, Ste A, Livermore, CA 94550 – USA
Telephone: +1 925-455-5500
Fax: +1 925-455-5504
Website: www.theeff.com
Corporate ID#: 20060071061
State: California
Judicial form: LLC
Date incorporated: January 3, 2006
Stock: -
Value: -
Name of
manager: Ibrahim ARNAOUT
Business:
The Company is importer and wholesaler fabrics and home furnishing.
Products include embroidered silk, taffeta silk, velvet, italian cotton silk, jacquard, linen, cotton satin, sheers and other high-end materials.
Office of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
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.
Suppliers include:
STAR SILK EXPORT PVT LTD
302 TULSIANI CHAMBERS NARIMAN POINT MUMBAI 4000210 MH, INDIA
EIN: -
Staff: 3
Operations
& branches:
At the
headquarters, we find the corporate office, on lease.
Shareholders:
This is a
private Company.
Management:
Ibrahim ARNAOUT is the Manager.
As far as we know, he is not involved in other local corporations.
Subsidiaries
And partnership: None
In United
States and Canada, privately held corporations are not required to publish any
financials.
On a direct
call, nobody accepted to answer our questions.
We sent a
fax but no answer received.
However,
sales estimate for year 2012 is in the range of USD 400,000=
The
business is said to be profitable.
Banks: Heritage Bank of Commerce
150 Almaden Blvd, San
Jose, CA 95113
Ph: +1 408-947-6900
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
File number: 137376809680
Date filed: 09-06-2013
Lapse date: 09-06-2018
Secured Party: Heritage Bank of Commerce
150
Almaden Blvd, San Jose, CA 95113
Haut du formulaire
Trade
references:
Date
reported: November 2013
High
credit: USD 2,000
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Office supply
Paying
status: On terms
Date
reported: November 2013
High
credit: USD 3,000
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Payroll
Paying
status: As agreed
Date
reported: November 2013
High
credit: USD 300
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Telecommunications
Paying
status: On terms
Domestic
credit history:
Domestic
credit history appears as follow:
|
Monthly Payment
Trends - Recent Activity |
|
National
Credit Bureaus gave a medium credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made with an average of 10 days beyond terms.
International credit history:
Payments of imports are currently made with an average of 2 to 5 days beyond terms.
Other
comments:
The bank
confirmed late payments.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
The risk is
medium.
Our
opinion:
A business
connection may be conducted but we suggest you to check regularly the way of
payments.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.