|
|
| Re: Millennium debt deepens (161717) | |||
 |
|||
| Home > BusChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: Millennium debt deepens |
|
|
Posted by JAzumah on Tue Aug 25 19:42:32 2009, in response to Re: Millennium debt deepens, posted by kcram3500 on Tue Aug 25 12:33:17 2009. "Buses are not paid for until the delivery is completed... thus they would need to borrow incredible amounts of money for parts and labor to build the buses before they get a dime."Millennium would use a combination of factoring and contract financing in order to do this. The contract financing company would advance up to 75% of the cost of the bus to actually assemble it and the factor would advance up to 80% of the cost of the bus to repay the contract financing company once buses are assembled. Since contract financing is easier to get when the "goods" are no touch, Millennium could get help with that through a creditor. This type of financing is still available. The question is whether Millennium has the capability to build high quality buses rapidly. If they do, they can get it done. The only challenge is that factors don't like to wait six months on money under normal conditions. However, if Millennium really wants to exist, they can get it done. I have a factoring line for my company. If I can get one, Millennium can get one. |
|
|
|