Millennium Consultants can provide funding for any project, if the project owner is ready, willing and able to provide the funder a SBLC for the desired value of funds needed. Minimum starting limit is 20 million with no top limit.
For all kinds of project funding, collateral security is mandatory. Investors seek to secure their lending against Bank Guarantee or SBLC. Hence if you need loan for any project [recourse or non-recourse], the borrower must arrange a SBLC for the desired amount originating from a top European or World Bank. SBLC is the collateral security needed to fund any project. Investors taking part in equity sharing program also ask for cash participation of the project owner. Hence it comes back to be able to arrange the initial funds required to generate a BG/SBLC. Properties, factories, machinery or any other form of industrial infra-structure are not accepted as collateral – whether it is cash investment or equity participation.
All industrialists or loan seekers must understand that if they want their project funded, they must arrange a leased or self-owned BG or SBLC. That is the only form of collateral security which can fetch them the desired funding.
We can finance projects located anywhere in the world as long as the project owners are Ready, Willing and Able (RWA) to provide collateral securities against the funds they seek for their projects. Investors seek to secure their lending against Bank Guarantee or SBLC.
SBLC for $ / Euro 500 million or more from RBS London, HSBC UK, Deutsche Bank Germany or Barclays UK are all acceptable for project funding. Our procedure is as follows:
The Client will send us a complete KYC pack with full banking coordinates and detailed business plan of the project for which funding is required.
Then the Client will send copies of original SBLC [if already issued] and also ATV to verify on Bank to Bank basis. The SBLC owner must be willing to re-assign the bank instrument in favour of the lending group backed by MT760.
If the SBLC is not issued as yet, then the client’s SBLC issuing bank will send a free message MT199 to the designated bank of the lender as per desired verbiage. We will need a free message MT199 direct from the issuing bank sent to lender’s designated bank confirming that it is RWA to issue MT760 within 2 to 3 days. Then we can issue a contract and offer an agreed amount of loan paid out in instalments.
The Lender’s Bank will then reply by MT 199 that it will accept the SBLC or bank guarantee to disburse the agreed sums / instalments to the designated bank account of the client after positive verification of the bank instrument.
The Client will then send the SBLC in favour of the Lender and send MT 760 to the designated bank account of the Lender. The Issuing Bank will also post the hard copy of the Bank draft to the Monetizing bank by bank courier.
After positive verification of the SBLC, the Lender’s Bank will start remittance of the agreed amounts in various stages to the designated bank account of The Client by Swift MT 103.
- At the same time commission will be paid to all named intermediaries as mentioned in the DOA.
Payments of the Loan amount will be made as agreed in instalments. These instalments will correspond with the need of the project for which the loan has been agreed. A term sheet of agreed payments will be included in the DOA and disbursements will be made in conformity with the requirements of the project being installed.