The company signed an agreement with Commercebank N.A. of Miami Florida for a US$4 million unsecured, revolving line of credit on April 27, 1998.
The unsecured line of credit, extended by the bank after a careful and satisfactory evaluation of Caribbean Cement Company’s credit worthiness and long term prospects allows the local company to access foreign goods and services (including equipment and spare parts) required for its manufacturing operations at Rockfort. The facility permits multiple advances to finance imports from Geyco International Corporation for a maximum of 150 days, thus giving the company access to financing in excess of US$4 million in any given year.
The revolving line of credit has been guaranteed and insured by the Foreign Credit Insurance Association (FCIA) a leading institution in the USA for insuring trade with developing countries.
