Back to back Letter of Credit for startups?

[tjdwls85]

Thank you for viewing my post and your interest in sharing your knowledge with me.

I am currently involved in the import and export business and was wondering if anyone knew a bank that allow back to back L/Cs for start ups?

From my research so far, all local banks require 2 years of operations to be able to qualify for back to back L/C. If anyone knows a offshore bank that would allow me to issue a letter of credit based on the letter of credit issued to me or would give me a loan based on that letter credit, I would really appreciate it if you could share it with me.

Thank you for reading this post.

[taxico]

do you have enough money in the bank?

my old man taught me credit was something i had to earn... guess it doesn't apply any more these days.

i'd like to get me some easy company loans from a bank too!

[Strong Eagle]

Your problem is that back to back letters of credit are ripe for scam if two sham companies collude. I back your letter, you back mine, the bank pays out and we disappear.

Don't know how to get around that.