My name is Jeff Ladd, I am a Matco tool distributor in Haw River, NC. I am looking to raise $200,000 to pay off a business loan, my current tool bill, my initial line of credit with Matco and my current tool bill. This adds up to approximately $170,000 which would leave me $30,000 in capitol in the bank to start my tool business fresh. I currently run a route with approximately 250 customers, and I currently have about 150 customers currently on the books. Matco is set up to be a cash flow business in which 70% of business should be TP business (truck payments, customers buying tools from me and paying me back on 8-10 week terms), 25% PSA customers (customers buying larger ticket items on credit accounts with Matco) and then 5% customers coming into my mobile store and paying cash as a walk-up customer. My business mobile is currently setting at 52% PSA, 43% TP and 5% walk up traffic. This is not a bad thing it is just my route and the customer base that I have. Going forward I need to payoff this business loan that I probably in hindsight should have not taken (very high repayment plan). However, with a bit of help and someone who can see the good and the potential growth in my small business I can be even more successful in the very near future. I would like to thank you in advance for any opportunity to speak with you about my business Jeff Ladd
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