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MIRA
INFORM REPORT
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Report No. : |
490770 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
EXPRESS TRADE CAPITAL, INC. |
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Registered Office : |
1410 Broadway, Suite 2600, New York, New York, 10018, Usa |
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Country : |
United States |
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Date of Incorporation : |
09.07.1993 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject engaged in trade finance and supply chain management
solutions. |
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No. of Employees : |
45 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, 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, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US 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.
The onrush of technology has been a driving factor in 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. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. 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 and oil has a major impact on the overall health of the economy. 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. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US 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, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. 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, 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. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
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 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
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 Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - 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 (Fed) 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 dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY INFORMATION |
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Legal Name: |
EXPRESS TRADE CAPITAL, INC. |
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Trade Names: |
EXPRESS TRADE CAPITAL, INC. |
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ID: |
1740625 |
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Date Created: |
1993 |
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Date Incorporated: |
JULY 09, 1993 |
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Legal Address: |
1410 BROADWAY SUITE 2600 NEW YORK, NEW YORK, 10018, USA |
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Operative Address: |
1410 BROADWAY SUITE 2600 NEW YORK, NEW YORK, 10018, USA |
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Telephone: |
212 997-0155 |
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Fax: |
212-858-5785 |
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Legal Form: |
CORPORATION |
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Email: |
trade@expresstradecapital.com |
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Registered in: |
NEW YORK |
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Website: |
www.expresstradecapital.com |
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Contact: |
PETER STERN – Chief Executive Officer |
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Staff: |
45 |
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Activity: |
NAICS 1: All Other Nondepository Credit Intermediation NAICS 2: Freight Transportation Arrangement SIC 1: Direct Working Capital Financing SIC 2: Customhouse Brokers |
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Banks: |
BANK OF AMERICA BANK LEUMI USA ROSENTHAL & ROSENTHAL, INC. STERLING NATIONAL BANK FLUSHING SAVINGS BANK, FSB |
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History: |
Express Trade Capital, Inc. was founded in 1993 and is based in New
York, New York. |
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PRINCIPAL ACTIVITY |
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Express Trade Capital, Inc. provides trade finance and supply chain
management solutions. |
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Products/Services description: |
The company offers logistics, letters of credit, and factoring
services. |
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Brands: |
Express Trade Capital |
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Sales are: |
Wholesale |
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Clients: |
Several Industries |
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Suppliers: |
Yiwu Sharetone Import & Export Co., Harmony Victory International Ltd. Llp Real Forest Dvinskoy Dok Llc Bankovskij |
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Operations area: |
National and International |
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The company imports from |
CHINA RUSSIA UKRAINE |
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The subject employs |
45 employees |
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Payments: |
Slow and delayed |
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LOCATION |
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Headquarters : |
1410 BROADWAY SUITE 2600 NEW YORK, NEW YORK, 10018, USA |
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Comments on Address: |
- |
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Branches: |
Express Trade Capital, Inc. (Branch Location) 1410 Broadway Fl 24 New York, New York 10018-5007 United States Express Trade Capital, Inc. (Branch Location) 18 Shorecliff Pl Great Neck, New York 11023-2016 United States |
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Related Companies: |
No related companies were found. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. We could
not confirm shareholders of the subject. |
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Management: |
PETER STERN – Chief Executive Officer MARK BIENSTOCK – Managing Director BEN ELLIS - Executive Vice President, General Counsel DAVID ESTRAKH - Senior Vice President DREW F. COHEN - Director of Strategy GARY VANTSYAN - Vice President – Logistics and Letters of Credit JENNY GUEVARA - Vice President / Account Executive HELEN KU - Vice President / Account Executive ASHLEY ORLANDO - Vice President / Head of Eco-Financing Division |
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FINANCIAL INFORMATION |
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Revenue |
12 400 000 |
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Cash flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
Suky et al v. Express Trade Capital, Inc. et al Plaintiff: Eddie Baranoff, Mordachi Saul, Bolour 62 Madison LLC,
G.M.R. Investors, Inc., PAR 62 Mad LLC, 62 Madison Partners LLC, Josef Ben
Moha, Benzion Suky and Jhonatan Ovadia Defendant: Express Trade Capital, Inc., Peter Stern and Dina Reis Case Number: 1:2013cv04250 Filed: June 19, 2013 Court: New York Southern District Court Office: Foley Square Office County: NewYork Presiding Judge: Paul A. Crotty Nature of Suit: Racketeer/Corrupt Organization Cause of Action: 18:1964 Racketeering (RICO) Act Jury Demanded By: None |
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TRADEMARKS |
No records found. |
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RENEWAL HISTORY |
Filing Date Name Type Entity Name JUN 04, 2012 Actual EXPRESS TRADE CAPITAL, INC. SEP 24, 2010 Actual EXPRESS SERVICE CAPITAL, INC. JUL 09, 1993 Actual EXPRESS SERVICE FORWARDING, INC. |
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UCC |
Debtor Names: EXPRESS SERVICE
FORWARDING, INC. 18 SHORECLIFF PLACE, GREAT NECK, NY 11023, USA EXPRESS SERVICE CAPITAL, INC. 18 SHORECLIFF PLACE, GREAT NECK, NY 11023, USA EXPRESS TRADE CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA Secured Party Names: BANK LEUMI
USA 420 LEXINGTON AVENUE, NEW YORK, NY 10170, USA File no. File Date Lapse Date Filing Type 200802115140397 02/11/2008 02/11/2013 Financing Statement 200807105779021 07/10/2008 02/11/2013 Financing Statement Amendment 201006235609870 06/23/2010 02/11/2013 Financing Statement Amendment 201010045967079 10/04/2010 02/11/2013 Financing Statement Amendment 201210050568783 10/05/2012 02/11/2013 Financing Statement Amendment 201301285106515 01/28/2013 02/11/2018 Continuation 201612098484997 12/09/2016 02/11/2018 Financing Statement Amendment 201801235100943 01/23/2018 02/11/2023 Continuation Debtor Names: EXPRESS SERVICE
FORWARDING, INC. 18 SHORECLIFF PLACE, GREAT NECK, NY 11023, USA EXPRESS SERVICE CAPITAL, INC. 18 SHORECLIFF PLACE, GREAT NECK, NY 11023, USA EXPRESS SERVICE CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA EXPRESS TRADE CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA Secured Party Names: ROSENTHAL
& ROSENTHAL, INC. 1370 BROADWAY, NEW YORK, NY 10018, USA File no. File Date Lapse Date Filing Type 201006235609868 06/23/2010 06/23/2015 Financing Statement 201010045968932 10/04/2010 06/23/2015 Financing Statement Amendment 201201055014647 01/05/2012 06/23/2015 Financing Statement Amendment 201206215718667 06/21/2012 06/23/2015 Financing Statement Amendment 201501025001309 01/02/2015 06/23/2020 Continuation Debtor Names: EXPRESS SERVICE
FORWARDING, INC. 18 SHORECLIFF PL, GREAT NECK, NY 11023, USA EXPRESS SERVICE CAPITAL, INC. 18 SHORECLIFF PL, GREAT NECK, NY 11023, USA EXPRESS TRADE CAPITAL, INC. 18 SHORECLIFF PL, GREAT NECK, NY 11023, USA Secured Party Names: STERLING
NATIONAL BANK 500 SEVENTH AVENUE, NEW YORK, NY 10018, USA STERLING FACTORS CORPORATION 500 SEVENTH AVENUE, NEW YORK, NY 10018, USA File no. File Date Lapse Date Filing Type 201009095881606 09/09/2010 09/09/2015 Financing Statement 201010015962871 10/01/2010 09/09/2015 Financing Statement Amendment 201110106104750 10/10/2011 09/09/2015 Assignment 201206225722290 06/22/2012 09/09/2015 Financing Statement Amendment 201505185536555 05/18/2015 09/09/2015 Termination Debtor Names: EXPRESS SERVICE
CAPITAL, INC. 1400 BROADWAY, 12TH FLOOR, NEW YORK, NY 10018, USA EXPRESS TRADE CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA Secured Party Names: FLUSHING
SAVINGS BANK, FSB 225 PARK AVENUE SOUTH, 2ND FLOOR, NEW YORK, NY 10003, USA File no. File Date Lapse Date Filing Type 201202210098947 02/21/2012 02/21/2017 Financing Statement 201207058237024 07/05/2012 02/21/2017 Financing Statement Amendment 201609206114444 09/20/2016 02/21/2017 Termination Debtor Names: EXPRESS SERVICE
CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA EXPRESS TRADE CAPITAL, INC. 1410 BROADWAY, NEW YORK, NY 10018, USA Secured Party Names: ROSENTHAL
& ROSENTHAL, INC. 1370 BROADWAY, NEW YORK, NY 10018, USA File no. File Date Lapse Date Filing Type 201203015250047 03/01/2012 03/01/2017 Financing Statement 201206215718617 06/21/2012 03/01/2017 Financing Statement Amendment 201610036165208 10/03/2016 03/01/2022 Continuation |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY |
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Founded in 1993, Express Trade Capital Inc. is a small organization in
the short-term business credit agencies industry located in New York, NY. It has 45 full time employees and generates an estimated $12.4 million
in annual revenue. The company operates nationally and internationally, mainly importing
from China, Russia and Ukraine. It is ACTIVE in business with a high credit
risk. |
RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Slow and delayed |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Ashley |
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POSITION |
Purchasing |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company, the number of employees
and the name of the President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.16 |
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1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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USD |
1 |
INR 64.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.