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 a repayment plan of approximately $1,475.00 to $2,000.00 per week could pay this back in 3 years or less. I am very interested to speak with anyone qith other investment possibilities as well. This was just my initial thoughts. Thanks in advance to anyone who takes the time to consider an investment in my small business.
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