Tuesday, January 08, 2008 9:03:46 AM
1) We will have an asset base of more than $5M. They'll usually finance ~75% of the value of the inventory. So the minimum inventory value is 1.25*$5M plus what Hacketts owns outright.
2) Wells Fargo is a reputable financial institution. There are many shady groups that provide this type of financning that Hacketts was able to rise above.
3) Wells Fargo requires a detailed review of the company's cash flow. Meaning they have it and it is suffecient. They will also put other convenants (financial controls and thresholds) in place to ensure the company remains financially healthy. Another set of eyes on the books is good for shareholders.
The fact that Hacketts has been able to secure this type of financing from a reputable institution like Wells Fargo give substatntial credibility to the business plan and direction the company is heading.
Way to go Tom! I think we have a $30M company (in Hacketts). Some Holiday sales fugures would be icing.
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM