Pei Heatherly: Given the cyclical nature of the drilling rig business, they probably want to understand the volatility of the cash flow generation. Is this a new rig or an old piece of junk? Does it have special capabilities that demand a premium? What kind of customers do you have? Do you have term contracts? Are you drilling in areas where oil & gas economics matter less (e.g. Barnett shale vs. Rockies)?There are probably the more general financing questions. How big is the loan especially vs. the asset value? Are you providing a personal guarantee? Have you owned/ran a drilling rig before? Have you ever been in bankruptcy? Have you ever had an adverse legal judgement against you?...Show more
Enriqueta Steffen: Beal Bank, CIT Group, or TriStone Capital. You too can run commercials within the Wall Street Journal. If you're watching for public fairness services assess with neighborhood funding bankers, and you'll do a Regulation D providing your self and! lift as much as $5M from personal traders and a minimum rate for your corporation. Good success.
Bailey Lares: Probably the same for any commercial loan. Insurance, contracts, ability to repay the loan, creditworthiness, collateral. You'll probably have to submit financial statements of your net worth. And demonstrate your knowledge of the business. Drillling is pretty slow right now. Service rigs is where the business is.
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