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Butler Lumber (Business (Retail dist. (Plywood, Moldings, Sash, Door…
Butler Lumber
Business
Land
RR Siding
2 strg bldg
Retail dist.
Plywood
Moldings
Sash
Door products
Quantity discount
30 Day
Successful Price Comp.
Quantity discount
Careful Op expence
No sales reps
Rave reviews
Line of Credit
Restrict. on barrowing
working capital maintained
additional invest need approval
limits on withdrawals
Interest: floating rate 2% abv prime
initial rate 10.5%
Sever dealings w/ Suburban
Business growth
Good Profits
shortage of cash
< barrowing to $247K
stay under $250K
Suburban wanted real property
Mark looking for larger unsecured loan
Partnership
Mark
Bro in Law Henry Stark
'88 bought out for 105K
Payoff in'99
$70K loan
Met George Dodge
Northrop Bank
Line of Credit
Upto 465K
Few purchases
Lack of funds
additional working capital
Trade credit seriously extended
Increase in accounts & notes payable
2% discount 10 day
due 30 day at invoice