Tire City Inc. is a retail automotive distributor in northwestern United States. The company was rapidly growing with 10 different shops, throughout the U.S. Jack Martin, Chief Financial Officer of Tire City, was preparing for a meeting with the bank, he is requesting a bank grant for a five year loan for an expansion of the companies warehouse. At the end of 1995 had $23,505,000 in sales and had $1,190,000 in net income. During the past three years sales have grown 20% compounded annually. This record proves the success of the business, and excellent reputation for service and great customer satisfaction.
In 1991 Tire City borrowed funds from MidBank to build a warehouse. The loan was being paid in equal installments of $125,000. At the
In 1991 Tire City borrowed funds from MidBank to build a warehouse. The loan was being paid in equal installments of $125,000. At the