General Requirements
Loan and other funding proposals supported
by CCC exhibit stable profit potential, strong and experienced management, and
the ability to service the borrowing over the term of the loan.
Finance can be made available in either U.S. Dollars or Euro, and can be committed for up to 20 years. Interest rate charges for dollar borrowings are based either on LIBOR or the one year U.S. Treasury security rate. In the case of Euro, the base rate is EURIBOR. In each case, the end rate conisits of the base rate plus a small margin. In this way CCC is able to tailor the most effective and attractive structure for a particular transaction. Venture capital underwritings, etc., all exhibit conditions designed to limit the financial burden on the client.
CCC normally requires a formal finance application, and concise data on the needs and uses of funds. Business plans, feasibility studies, financial projections for at least three years, and details on the future operations will help CCC to approve your proposal. Management agreements with senior executives should be fully explained. A profile of the client and its principals, as well as its financial statements, and those of any guarantor are also helpful, and should be provided. The application must describe fully the security offered; and to ensure that CCC can fully understand the essence of a proposal, any additional information, which would be helpful and supportive should be included.
It is our goal to review each finance application and respond in a timely manner. If all necessary information is made available to CCC and the proposal meets our criteria, preliminary documentation can be issued within 7 days. If the applicant is prepared and ready to act promptly, funding commitments or loan agreements can often be provided within 30 days of application, sometimes sooner.
During processing of a funding application, it is important that communications between all parties be in writing; and, due to the international nature of most transactions, in the English language. This avoids any possible misunderstanding or interpretation from either side; and this, in turn, ensure that the funding process moves forward speedily.
In the year 2000, we decentralized and rationalized our processing, and communications. As a result of this, the preferred method of submission is now electronic - that is to say either by email (either in the body of the email, or with relevant files attached), or ftp (file transfer protocol) to our ftp site. Should a financial intermediary, or applicant, wish to ftp material to us, it is necessary to enquire in advance, as a user name and password must be allocated for each individual case. These requirements ensure the most prompt processing of the application. It is also still possible simply to fax the material to us.