Prima Foam Corp

Prima Foam Corp. has been awarded the task to work on a multi family home project in the Columbia Valley area with a prominent home builder from Alberta and BC.  The lake resort city of Invermere is a popular destination for Albertans and is used as a playground for the affluent in the summer months - This bid was awarded to us due to our knowledge and experience.

 

With a Purchase Order of $170,306.94 we have the opportunity to do full envelope insulation from traditional batt and poly - Loose fill for all attics and Spray foam ( 2lb Polyurethane Spray foam) to all garage cold floor and cantilevers to 3 Triplex luxury condos and 3 Duplex luxury condos. 

 

Prima Foam and the Home builder (name upon request) have worked together on many projects since 2015.
 
  Prima Foam Corp is my company that I started in November2015 with $300. - This did not stop my ambition, due to not having credit history - working capital loans and credit cards were not an option. I had to make this work, we are still standing 7 years later with growth that I can be proud of

Since 2015 I have been able to acquire a team of 2 crews and 2 spray foam rigs and equipment - We service the Calgary area and have built traction and an excellent reputation with many prominent custom home builders. 
 

Prima Foam is not limited to residential, our relationships also bridge over to commercial work with 4 major commercial contractors. 
 

I am proud to say that we have come a long way - It has however been very challenging and the term 'pulling a rabbit out of a hat' gets used a lot. Here we are on the eve of a new province expansion where we have already leaned into another Custom home builder (name upon request) building $2million dollar plus vacations homes in the same area of the Columbia valley - (We have already done 3 homes for this group)

 

Our stretch is being able to make sure we can supply the products and labour whilst still focusing on our turnover in the city of Calgary, Alberta

I am going to jump right into it. 

We have put a lot of hard work to be here today with Prima Foam. With the relationship building and the years of foundation work such as-- equipment, shop space, staffing, accounting, self-funded growth.  We are finally in a position where expansion is organic and is forcing us to take the company to the next level. 

We stand to run a revenue alone from BC projects ( not including Calgary )   May - September at just over $ 222,941.00 with a conservative profit margin of 20% with 5% contingency -- leaving a tidy profit of $ 44,588

This is exciting. This does however present some challenges 

This means that we still have our full work load in Calgary plus we have to build a crew for BC.

Our initial thoughts were short term bridge operating loans from banks / Angel investors or traditional longer-term loans from the bank. 

The investment ask is $100k 

The money would be allocated to the following:

New Hires : 

1 admin support / book keeper / Office manager - keeping ahead of the day to day
1 Skilled Tech lead hand  $12k 1 one-month wages coverage
1 General labor for lead hand helper 

 $12k 1 one-month wages coverage


Bank Float:
 
For product/ Maintenance/ consumables | Material for site projects

$50,000k   - Price break down available on general consumables and overhead material costs


High Interest credit card payments - To be used as revolving if need for project purchases $19k  - Statements available

Equipment upgrade:
 
New gas compressor to maintain high output volume 

 $4,200


Enclosed trailer dual axel to replace aging trailer - Use old trailer for light hauls

 $14,000k
 
   
Total used $99,200

In following, to mitigate the risk we have equipment and trucks without payments due. Own out right worth $125k -- We are willing to put this as security to your investment -

 
 Thank you for your consideration 
 
 Gary Gruber- Mai