Product details

John Sproule, of Sproule Controls, was looking for a long-term injection of capital into his company. He was up to his current limit at the bank and did not feel the bank would increase his debt capacity. He needed the funds to finance expected sales of $2,400,000. He would like to acquire up to $1 million so he would not have to be constantly looking for capital. He was willing to allow potential investors up to a total of 25% share of the profits in return for the injected capital.