Financing by Year-End 1988 It Is Estimated Essay

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Financing

By year-end 1988 it is estimated that AMT Corp would be in need of approximately $2,000,000.00. Based on the information supplied by the company and after speaking with the other loan officers that have dealt with AMT and Mr. Haskins in the past, my first reaction as Mr. Winter, a staid and conservative banker, would be to say no to Mr. Haskins. That would be my first reaction based on the numbers and the fact that numbers don't lie. AMT's financial woes have been exacerbated by the fact the Mr. Haskins has been aggressively growing the company and the losses have continued to pile up. There is, however, a glint at the end of the tunnel. It seems that AMT has a sugar daddy lined up to support its efforts, if it can continue to grow the business, create new products and markets, and reach certain aspirations before the end of 1988. Certainly some of those aspirations include paying its debts.

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The new credit line of $8 million would be used primarily to pay off existing debt and continue to fund the business. The glint at the end of the tunnel includes the fact that the company's revenues have grown at a very fast clip, and projections are that they will continue to do so. If those projections come to fruition, then AMT's 'sugar daddy' will step in and merge AMT into its business entity which is much larger than AMT.

Taking a deep breath, I (as Mr. Winters) would probably recommend that the $8 million line of credit be extended to AMT with some financial stipulations as well as some changes in how the company conducts its business. If these stipulations are not met, then the line of credit could not be extended. The first stipulation would be to pay Sunnyvale Bank….....

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