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Plan B - Ex-Im Medium Term Financing (3 – 5
years; Local bank guarantee may apply)
Nationwide Equipment can arrange Medium Term Financing for the purchase
of new & used construction equipment. In order to apply for a
mid-term loan (3-5 years), your company needs to submit the following
detailed documentation to begin the loan application process with our
U.S. Lenders that specialize in financing to your region.
Here is what is required to initially review your application:
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1 - |
Company Profile
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2 - |
3 Years
signed Audited Financial Statements. Latest management accounts
if the audited statements are more than 6 months old.
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3 - |
Copy of
approved Pro-forma Invoice or Commercial Contract between
Nationwide as Supplier and your company as Buyer
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| RATIO REQUIREMENTS |
- Positive operating profit
and net income in each of last 2 fiscal years
- Positive cash from
operations in last fiscal year
- EBITDA/Debt service
(including Ex-Im Bank debt if more than 25% of total debt)
is at least 1.5 for last fiscal year
- Total liabilities (excluding
Ex-Im Bank debt) do not exceed 1.75 times tangible net worth
at end of last fiscal year
- Ex-Im Bank exposure does not
exceed 40% of tangible net worth at end of last fiscal year
- Interim statements disclose
no material adverse change in financial condition
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With these in hand, our
lender can do a quick review and choose to issue a preliminary proposal,
which includes Annual Interest rate, related Ex-Im fees and local bank
charges. All these fees averaged over a 5 year note currently come
to a rate of less than 8% per annum.
If interested, please send
complete documents immediately via courier so we can submit your
application to our lenders specializing in your region. Upon
review you will receive an indication if Ex-Im financing is possible for
your company.
If you choose to accept the
bank's offer, a formal loan application is then submitted to Ex-Im upon
payment of a non-refundable facility fee of $2000 to do a complete
underwriting analysis of your company for presentation to Ex-Im Bank
underwriting committee.
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