I have been repairing and refurbishing cricket bats with my friend for about a month now. Currently we have to do everything by hand out of our apartment which is extremely time and labor intensive. There is almost no competition in our area and we have been collecting more bats than we can repair in a timely manner with our current set up. Our current profit is $70 per bat.
This loan would go towards the purchase of simple power tools which would allow us to repair bats in about a third of the time increasing our production. A small portion of the loan would also go toward the fees to formally file as a company.
I expect to have this loan paid in full in less than 3 months. I have agreed to a 12 month term simply because a 12 month term is the minimum I can get with the loan amount I am requesting.