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STAR is a privately held company which has been in the import financing business since January 1999. Our typical client is a small to medium-sized company in the Import/Export, Wholesale or Manufacturing business. We finance most types of merchandise except for perishables or other products with questionable or extended terms or conditions such as consignment sales.
STAR Finance Success Story:
IMPORTER OF NOVELTY ITEMS
A small company operated at breakeven or a loss for the first 5 years of its existence. Finally in the sixth year the company started to book substantial contracts with one of the larger domestic retailers. The overseas manufacturers, however, required letters of credit before they would put the goods into production. Traditional lenders wanted outside collateral to support any letter of credit exposure. STAR issued the necessary letters of credit to the overseas suppliers based on the strength of the transaction without the benefit of side collateral. We paid for the merchandise when it was shipped, paid the duty and freight on arrival in the US, and factored the sale to the retailer. When the retailer paid the invoice, STAR took what was owed to it, and passed the net proceeds to the client. In one transaction, the client made up for most of his prior losses. STAR continues to fund this client's contracts to the same and other retailers.
STAR Finance Success Story:
IMPORTER OF MOTORS AND CHAIN
A minority company had been operating for a few years at break even to a small loss. They did not have the financing to bid for large contracts, even though they had a competitive product and pricing. With STAR'S support, the company was able to bid successfully for larger contracts. STAR opened letters of credit to subject's Chinese suppliers and financed 100% of the transactions, thereby increasing the company's profits.
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