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    2 Replies Latest reply on Sep 6, 2008 5:51 PM by finsolamerica

    Working Capital, Equipment Financing

    DesignDSR Newbie

      Hello, my name is Randy and I am part owner in a small family owned machine shop (Design Systems Research, Inc.) located in Indianapolis, IN. We are currently looking for means to refinance some equipment, purchase new equipment and upgrade our facility without going through a conventional lending institution.

      We've been in business since 1987 when my father started the company. As I said, we are a small shop that only employees 5 people. We have several pieces of CNC equipment, conventional equipment, support and inspections equipment. It is a very well equipped shop that has an excellent reputation for quality. Our business deals with primarily in the automotive and aerospace industries. Neither are well known for their timely payment terms which, consequently, causes a serious cash flow issue for us at times.

      Through the end of last month we have done $313,128.17 in gross sales. We have just over $69K of work in process and just under $80 of accounts receivable.

      Our credit is not great. We've always been able to pay our debts, but not always on time. We've also had a couple IRS leans in the past but were able to eventually satisfy them. We are in good shape with the IRS now, but the leans still show on our D&B reports therefore I have not been able to arrange financing through any of the conventional lending institutions.

      I am looking for a company, group or individual who is willing to work with this small company to help expand and improve our business.

      I am not interested in any hard sales pitches. I just want to find a financial institution or individual who wants to grow together.

      If interested, please feel free to contact me any time.

      Thanks for your time,