5.0.-14.0. EDSR 09-13-1993 - Laserfiche WebLink

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• Loan repayments are proposed as follows : SOURCE TERM INTEREST RATE SECURITY Primary Lender 20 years Prime plus two 1st Real Estate (adjusted Mortgage quarterly) SBA 504 20 years 6% (assumed) 2nd Real Estate ( fixed) Mortgage EDA Loan 10 years Prime (adjusted 3rd Real Estate semi-annually) Mortgage Debt service for the convenience store is outlined as follows : ANNUAL SOURCE . DEBT SERVICE • Primary Lender $47 ,831 (initially) SBA 504 $27,830 ( fixed) EDA Loan $ 6, 665 (initially) TOTAL $82,326 COMPANY NARRATIVE • Information on Ken Beaudry and Beaudry Oil is outlined in greater detail ina summary that is attached to the loan application. Beaudry Oil was formed in December, 1981, and expanded by adding a wholesale division, bulk plant, propane division, convenience, and oil lube division. Beaudry convenience reported sales of $3,037 ,062 and $3, 754,854 in 1991 and 1992 respectively. Gross profit was reported at $472, 010 and $589 ,497 for 1991 and 1992 respectively. Income for the two years were reported at $(6, 980) and $2,815 respectively. Net losses were reported at $( 64, 667 ) and $ ( 17,969 ) respectively. Beaudry convenience reported total assets of $425, 077 and $487 ,433 in 1991 and 1992 . Total stockholder' s equity for the same period was reported at $73, 970 and $82 , 001 respectively. Beaudry Oil and Service, Inc. , reported sales of $13, 680,062 in 1991 and $14, 677,201 in 1992 . Net income - was reported at $266,491 and $167,587 over the two years respectively. Total assets for Beaudry Oil and Service was reported at $1,782,526 and $2, 033, 694 in 1991 and 1992 respectively. Stockholder's equity over the same two years was reported at $263,598 and $303, 247 respectively. Sales at a new convenience store is projected at $5,418, 360 and $6, 930,066 over a two year period. Net income is projected at $44 , 325 and $86 ,452 respectively.