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ID number:402634
Evaluation:
Published: 05.08.2005.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

BMP Lumber Company has been in operation for ten years. During the past several years BMP has experienced significant growth, which its owner, Mr. Paul Grant, believes is likely to continue into the future. This belief has lead Mr. Grant to conclude that BMP requires a bank loan of $80,000 to sustain the business. As financial advisor to Mr. Grant, it is our position that: (a) a loan is required to cover the short-term operating capital needs of the company, (b) Mr. Grant needs to gain control of his current asset accounts, in particular, inventory and accounts receivable, (c) BMP Lumber does not have sufficient fixed assets to secure a loan of the magnitude requested. As a result, we recommend that Mr. Grant either use his accounts receivable and inventory or provide a personal guarantee to secure a loan from the Victoria National Bank ("VNB"). The analysis that leads us to these conclusions is as follows.…

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