Our cash need is related to our company’s rapid growth. We launched a new sports division that provides design and build services. This new division named Messenger Sports targets the venues teams depend on as a part of their financial success. Messenger Sports enhances overall concession revenue through locating missed opportunities in vacant space or by redesigning existing ones. We recently partnered with Anheuser-Busch (AB) to provide our services for NBA, NFL, and MLB teams that receive sponsorship dollars from this icon beverage company. The projects range from $50k to $500k pending on scope. AB is a large company that will not deviate from their policy of not providing deposits on large project and just do not make any exceptions to their 120 day payment terms. These projects are an amazing opportunity for Messenger Sports but we are not able to carry the job costs for such a long period, especially after this difficult covid year. Our normal operating procedure is to secure a 50% deposit for each job that covers our hard costs. I am looking for a partner that will fund the project while accepting the contract/PO as collateral. My proposal would then have AB pay our partner directly. The partner would then take the loan amount and fees from the AB payment, and then forward us the balance.
We are a 100 year old company in Seattle, New York and San Diego with approximately 50 employees. Our architects and design staff are the best in the industry and supported by an incredible project management team and fabricators. Our main website (
www.messengercorp.com) provides more information and examples of prior work completed for of our popular clients that are also icons in their industry. Our new sports division has a separate website (
www.messengersports.com) that also shows examples of some of the teams and projects we have completed for them. We do not currently have any other loans or debt with the exception of the PPP loan that will be forgiven. Our annual revenue ranges from $7m to $10m, this year is the exception as we lost over a full quarter shut down by state mandate due to COVID-19. We are family owned, and managed by an experience management team that includes myself as the Chief Financial Officer.
Thank you for taking the time to review my request and look forward to answering more detailed inquiries.