Dave Knudson, Gravity Capital. I want to take through another loan that we’re doing right now on this company called Full Armor Fire Arms. An individual by the name of Jim Hiland, came to us through a loan broker by the name of Jean Parish, and wanted to borrow some money to construct a new firearm/gun range store in Pearland, Texas.
Jim had acquired a piece of land 1.25 acres and he had actually started constructing a building on it that would be his new firearm store. We wanted to go through his old store, just to see what Jim is doing, meet him, say hi, get a comfort level with him, he is a great guy. He has an amazing facility down here, a bunch of guns, a bunch of people working for him, he’s got a gun range back here that people shoot in.
His numbers were, basically that he wanted to borrow upwards of a million dollars that would complete his facility. So he started working on this store, and paid $600,000 or so for the lot, and another $800,000-900,000 in the construction design of the building, heating, air conditioning systems and some other things like the parking lot, a bunch of cement work. And hopes are that he will have what he says will be the “Cadillac of Cadillacs”, or should I say, the “Ferraris of Ferraris”, as he had a very nice Ferraris in his shop, that would rival his competitors. And this store as well, he does a great business out of this store it seems like, a bunch of people were in there, they had some people shooting in the background. He wanted to show us through this facility, this is in the middle of the day. He also has a C&C shop, where he makes some of these parts for people, he’s got machines that he keeps going, he’s got a bit of a mechanics shop that does some other things for people’s cars. He loves motorcycles, he loves expensive cars, and he loves guns, which is what I like to see. His passion.
Here is his new facility, again he bought 1.25 acres, paid 600K cash, he’s got another 800 grand or so into it. We’re going to lend him upwards of a million dollars we’re gonna give him 6 to 700,000 dollars to complete this facility, and then after it gets done we’re gonna take a look at it and see how it goes. And potentially give him some funds to help him with his business although his other business does quite well.
So this is the final look at the facility, as you see, he’s got this gun range that is pretty phenomenal. It’s deep, it’s high, it has ventilation, he’s got sound proof. So this is it Jim, and we’ll see how it goes.
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