Letter of Intent?

butterfly37

Hi all,

I am getting products made in China but dont have the funds to purchase the first order, the question is, would the bank accept "A letter of intent" (for a loan) to buy the products as I have a letter of intent from a major retailer who wish to buy my products.

Any feedback would be greatly appreciated.

Thanks Pam:)

bengalknights

Whats the approx value of the loan as if its above £20k then the bank would want that money secure where as less and they maybe willing to go by the letter of intent, alternativly they may issue a letter of credit to use against any loan they give you this way your goods would be guaranteed.