|CITI Financial Group is a one stop source for small business and Large business seeking commercial financing.
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PROOF OF FUNDS SERVICES
WHAT IS A BANK GUARANTEE?
Bank guarantees are exactly what their name insinuates. They are a guarantee
from a bank that a debt will be paid. The financial institution declares that if the
buyer fails to pay their part in a transaction, they will pay the debt for them. They
do not do this for free however. There are generally strict credit checks and of
course collateral comes into play. No bank wants to guarantee a debt it will likely
have to pay. Most often the collateral takes the form of liquid assets such as cash,
stocks, and CDs held at the bank, as many banks will only offer guarantees to account holders. It is
important to note that these assets do not become the property of the bank. The owner of the guarantee
retains ownership of the collateral unless the debt is not paid. The bank may place a “hold” on the assets
however, so that they cannot be used while the guarantee is outstanding. A bank guarantee can be a
priceless tool when it comes to completing large or overseas business transactions. It can allow for growth
and promote trade in ways that could not happen otherwise. A bank guarantee is essentially freedom. It is
freedom to proceed with transactions that may not be fully financed by cash on hand but that need to
happen quickly in the best interest of the company. It reduces risk on each side, freeing both buyer and
seller to proceed with confidence. While there are other forms of financing available, sellers often view bank
guarantees more favorably than others for the simple fact that they give the impression of being more
reliable. The fact that they are issued by a bank and that the bank itself is the one that will pay if the buyer
cannot lends greatly to this.
WHAT IS A CREDIT FACILITY?
A Credit Facility is a type of business loan with flexible terms and restrictions on its usage. It can be
structured as a single loan or multiple loans, and as a short term or long term loan. Although a Credit
Facility is flexible in its structure, the use of the loan is restrictive and can only be used for specific business
purposes. Generally, it is way of improving overall credit worthiness by reducing the risk of default
HOW CAN A CREDIT FACILITY HELP YOU?
By improving credit worthiness and reducing risk of default, you can gain access to financing options not
previously available. A Credit Facility can help you get lower interest rates and better financing terms. CFG
can help you obtain this important instrument
From top 100 banks
With a 24-72 hour turn around time
And the option to expedite the delivery of the instrument with SWIFT messaging
Upon submission of project proposal clients must supply proof of funds showing financial
capacity to engage with investors. Proof of funds can be a tear sheet, bank statement, or bank
reference letter. Once the proof of funds is submitted, please allow 24-72 hours to review and
LETTER OF CREDIT (LOC) & STANDBY LETTERS OF CREDIT
One of the most useful financial tools available in the world of international trade is the Letter of Credit. Its
cousin, the Standby Letter of Credit, is also very useful. While the two are very similar, they are not the
same. They are used in similar situations but each guarantees something very different. Citi Financial
Group professionals are here to help clients understand the difference, and if a Letter of Credit is the tool
that is needed, help them understand which type they need.
Letters of Credit (LOC are issued by banks on the behalf of sellers. The documents guarantee that
payment will be made in the correct amount and on time. This type of guarantee places the bank in the
position of having to make the payment if the seller does not. A Standby Letter of Credit (SBLC) is similar in
that it is issued by a bank, but that is where the similarities end. Rather than guaranteeing payment will be
made and binding the bank to payment if the holder of the letter does not pay, Standby Letters of Credit
(SBLC) give assurance that the buyer has the means and credit worthiness to make payment. This does
not bind the bank to make payment in any way for any reason. As one of the top SBLC providers we can
definitely help you, contact us today!
Citi Financial Group provides corporations, institutions, governments, and
entrepreneurs profound solutions and a broad range of financial products for
our clients' individual needs.
Our multi-national experts will bring specific industry, regional, and product
expertise to each client; advancing our finance group's industry leadership in
devising and executing the most innovative, customized answers to the most
challenging issues in the global marketplace.
Our services include, but are not limited to:
Asset Management - With a great depth and breadth of expertise, we help
clients achieve their goals through a wide array of strategies, in every major
sector and asset class through various distribution channels.
Project finance - Structuring privatizations, limited recourse and non-recourse
Financial and regulatory advice - Using our network to keep current on
developments and advising on the practical effects of international regulatory
Loans and credit facilities - Structuring cross-border facilities, secured and
unsecured, and trade-financing transactions.
Private Equity - Structuring and organizing new funds, structuring and
executing institutional and management-led buyouts, public-to-privates,
follow-on acquisitions, IPOs and trade sales. Areas of expertise include
traditional private equity, alternative asset funds (e.g., real estate, infrastructure
and oil & gas) and hedge funds.
Bank Instruments and Securities - We represent financial institutions and
corporate entities in connection with the issuance of bonds, notes, commercial
paper, and other capital market instruments.
Bank Proof of Funds - Our bank proof of funds irrevocably confirms funds
availability by SWIFT from major banks. Amounts between $10 Million and $500
Million USD are readily available; larger amounts can be arranged.
Credit Enhancement - We create and place highly structured credit
enhancement and targeted risk capital products that provide efficient capital
solutions for large investment projects.
Whatever your financing needs may be, our team of specialists has the
experience and capability to find a solid solution to fulfill them.