?Be Our Guest, Inc.?Be Our Guest Inc., a Boston embed fellowship, is a rapidly growing equipment rental company with of the essence(p) seasonal workerity in its revenues and profits. In the spring of 1998, the senior counseling police squad is reviewing its financial plans in preparation for a meeting with the companys bank. The brass provides an opportunity to forecast financial necessarily and consider the assign structure and amount of bank borrowing. For years the company has been contract party supplies and furniture to caterers, force planners and hotels, it has likewise managed to grow stepwise in a very fickle and seasonal origin. The founder, Stephen Lizio and co-owners Al Lovata and Simone Williamson found it difficult to computer reposition daily operations because of seasonal cash shortages. Stephen Lizio met Anne Granger, Vice chairwoman at State course Bank, at a networking event in 1995. She became interested in learning more closely Be Our Guest , Inc. and over the con end pointinous few months she maintained contact, tour the company and becoming acquaint with the management team. In 1996, the company had secured a $100,000 revolving line of point of reference at the summit rate plus 1.5%, and a $390,000 five-year bestow at a fixed rate of 9.25%. The term l closure?s monthly payment was more than $8,000. By the end of 1997, the term?s loan outstanding balance was reduced to $315,000.
On the contrary, the credit line had been increased to $140,000 and tapped out to fund a large jump in receivables in December. eon a rise in receivables usually is a get event, legion(predicate) of Be Our Gues! ts customers had followed up their annual holiday rush, so party-equipment rentals peak, with their annual winter slump, leaving them unable to pay their bills until late spring, when business could be counted on to pick up again. onerous to pay such... If you want to get a full essay, cast it on our website:
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