Hello Buddies,
I am working on partnership with my late Dads Mining company and as the head of the deal. I was informed they will be providing a SBLC of 20$.
I need better information on how this can be useful and how to turn into cash. My Local banker has limited information & no financial advantage.
Hi there, i a lot that that can be done with a SBLC. I hav a contact that can monetize you SBLC or you can use it on a trade platform where you can retain your capital and still earn 100-500% on it. I hop we can chat.
(Jun 23, 2022 03:26 AM)atlantic Wrote: Hello Buddies,
I am working on partnership with my late Dads Mining company and as the head of the deal. I was informed they will be providing a SBLC of 20$.
I need better information on how this can be useful and how to turn into cash. My Local banker has limited information & no financial advantage.
Were you able to manage it?
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(Jul 5, 2022 02:11 PM)Sh0w3n Wrote: Were you able to manage it?
Not yet, pal
(Jul 5, 2022 02:39 PM)atlantic Wrote: Not yet, pal
Do you have any more information for me about the whole deal? Location, bank, a few details on the company and what your goal is with the SBLC.
I have a few people in my circle who deal with things like that since it's not my expertise, though I have a decent knowledge about it.
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(Jul 5, 2022 02:43 PM)Sh0w3n Wrote: Do you have any more information for me about the whole deal? Location, bank, a few details on the company and what your goal is with the SBLC.
I have a few people in my circle who deal with things like that since it's not my expertise, though I have a decent knowledge about it.
I am the head of a small scale mining company in Sierra Leone. My partner of 3 years, found a private investor, willing to help upgrade the mining with latest equipments. The Payments instruments is mainly for the purchase of Heavy machineries. But our local banks do not, issue /accept SLBC.
(Jul 6, 2022 12:22 AM)atlantic Wrote: I am the head of a small scale mining company in Sierra Leone. My partner of 3 years, found a private investor, willing to help upgrade the mining with latest equipments. The Payments instruments is mainly for the purchase of Heavy machineries. But our local banks do not, issue /accept SLBC.
If its still valid today, I can go discuss it with my partners and get back to you. Could you provide more detailed information in a private message?
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Aug 2, 2022 06:35 AM
(This post was last modified: Aug 2, 2022 06:38 AM by SlicingPie.)
You need to first find an intermediary FI that is willing to collaterize your SBLC. (3rd tier banks) usually will take on this risk.
However, given that your local bank is not able to take on this risk, you will have to find a foreign entity in a similar industry as yours that is large enough to issue SBLCs with their banks. That might facilitate transactions with your local bank as well.
Edit: It might be quite challenging for you to work your way through with the current macro environment as banks are generally not taking alot of risk. All the best OP.
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