Abbey Electronic Services
Company Summary
Abbey Electronic Services is a start-up business managed by Richard Abbey. The economic growth of Cherry Grove in the last several years has resulted in a revitalized community with numerous new services and businesses. As a result, the area’s need for reliable and convenient electrical repair services has substantially risen as well. Abbey Electronic Services will position itself to capitalize on the growing need of the middle- and upper-class market for quality electrical repair service in the metropolitan area. The company will be privately owned by Richard Abbey, with most of the additional funding coming from a ten year SBA loan.
2.1 Start-up Summary
Richard Abbey will invest personal funds. The remainder of the required financing will come from a ten-year Small Business Administration (SBA) loan. The following table and chart show projected initial start-up costs Abbey Electronic Services.
| Start-up Funding | |
| Start-up Expenses to Fund | $40,800 |
| Start-up Assets to Fund | $109,200 |
| Total Funding Required | $150,000 |
| Assets | |
| Non-cash Assets from Start-up | $100,000 |
| Cash Requirements from Start-up | $9,200 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $9,200 |
| Total Assets | $109,200 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $100,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $100,000 |
| Capital | |
| Planned Investment | |
| Richard | $50,000 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $50,000 |
| Loss at Start-up (Start-up Expenses) | ($40,800) |
| Total Capital | $9,200 |
| Total Capital and Liabilities | $109,200 |
| Total Funding | $150,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $300 |
| Rent | $1,000 |
| Start-Up Inventory | $15,000 |
| Leased Equipment | $1,500 |
| Start-Up Equipment | $20,000 |
| Other | $0 |
| Total Start-up Expenses | $40,800 |
| Start-up Assets | |
| Cash Required | $9,200 |
| Other Current Assets | $0 |
| Long-term Assets | $100,000 |
| Total Assets | $109,200 |
| Total Requirements | $150,000 |
2.2 Company Ownership
Abbey Electronic Services is privately owned by Richard Abbey.
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