Need a Bank Stanby Letter of Credit for $10,000,000. Bank will keep Monies in one of it's account. The Bank will receive am interest rate to be TBD by negotiations. The Stand By Letter needs to Be a A+ or better. I is being used as a Credit Enhancement.The plans are to build 100 estate homes for young
executives moving to Corona to be closer to
their new office suites being built right in front of
this project. The 600 acre industrial park will
resemble Irvine Spectrum. The comparables in the area
for this size home are already selling for
$800,000 to $1.2 million today. We have the funding
source that will supply all the funds for
the project and all they need is the SBLC (Standby
Letter of Credit) to act as a balance sheet
enhancement. The requirement for the funding source is
Experience, Profitable project and
Standby Letter of Credit. We have the Experience and
the great project. All we need is the Standby
Letter of Credit and for this the project owner will
give 8%? return on the amount of the SBLC for
the time used around 8-12 months guaranteed.

Quick Summary:

1. Bank guarantees the SBLC will not be used and
returned no later than 12 months. The
investor’s Attorney will write the terms on how the
SBLC will be returned.
2. The land is worth $5,000,000 one year ago and this
was before the 600 industrial park was
approved. The estimation of land today is $7 million
-$8 million.
3. The project does not affect the SBLC in anyway.
4. The Bank facilitator is going to be LLB Bank and
Union bank of California in Beverly Hills.
5. The SBLC is guaranteed by an “A” rated Bank.
6. The minimum SBLC is 10 million.