Bank Loan Request - Score East Bay (Page 2 of 3) in pdf

Executive Summary

ADVENTURE WORKS is a high-end design and remodeling firm with a reputation for

integrity, quality craftsmanship, and excellence in management. In three years annual sales

have increased to be well over a million dollars.

ADVENTURE WORKS was formed by Brian Groth as a Sole Proprietorship in December 1997.

In 1998 a combination of activities involving residential design, consulting, and general

construction brought Gross Sales of $250,000.

The Company experienced steady growth since its inception, and incorporated in March 1999,

(see Appendix 6, Articles of Incorporation). In 1999 Gross Sales of $750,000 were achieved. In

2000, signed contracts show that Gross Sales are expected to be $1,300,000 (see Appendix 2,

current Backlog).

The Company has its address in leased premises at 1234 A Street, Springfield, MD 40523. Its

activities fall under the Standard Industrial Classification SIC 1521 and 1522. The owners are

Brian Groth and Julie Bankert.

ADVENTURE WORKS is involved in four distinct activities:

1. Architectural Design

2. Residential & Light Commercial Construction

3. Property Services

4. Retail Floor Coverings (see Appendix 4).

Eighty to ninety percent of the Gross Sales are in design and construction. At the moment (May

2000), there are 25 permanent employees on the payroll and 10 subcontracted workers

excluding subcontracting companies (see Appendix 1 for resumes).

The company's Short Term Objectives (within the next three years) are to increase activity in all

Divisions, and to achieve annual profit, net after taxes, of $200,000 by 2005. Its Long term

objectives are: to maintain the level of current business achieved up to 2005, and then to move

into historical restorations, more light commercial work, and increased new custom home

construction.

To implement these objectives the company needs:

1. A loan of $100,000 at Prime plus 2%. This loan to be used for current near term expenses

including __________________, ______________ and ____________ It will be repaid in

five years.

2. A line of credit of $50,000 to take advantage of discounts available, avoid associated

penalties, and expand into high profit areas requiring positive cash flow.

Bank Loan Request - Score East Bay Page 2