Loc: MS We recently opened a checking account for an LLC owned by three Israeli citizens who bought a foreclosed business building in our city - they paid for it outright. They all have Visa types R/B1-B2 and no SSNs or ITINs. They provided Visas and Passports at account opening and signed Form W-8BENs.
They now would like to obtain a $40k letter of credit for the business (not sure who are guarantors -- we are asking). The LofC has to do with Entergy services and we feel that this LofC will lead to other requests for operational credit loans or improvement loans etc. However we are unsure how to proceed!
What additional information should we obtain in order to provide this LofC or should we be concerned? As the BSA Officer I am concerned that they paid outright for the building but I cannot find anything about them other than that they recently bought another foreclosed commercial property in Michigan.
I know that a B1 visa holder can sign contracts and conduct business transactions but need help with this loan request.
Any input will be helpful!!!