Company Overview
Project Overview
Rewards Program

«Return to Agreements
Business Loan
Link Resource Partners and Gould Leasing
(March 2007)

During 2006 it became clear that Golfmax Inc. required external financing, particularly in relation to the implementation Golfmax Rewards program. .

The services of Link Resource Partners were engaged.

LRP found a source for a business loan agreement through Gould Leasing, a Toronto based leasing and financing company.

The agreement with Gould allows for a draw down of up to $500,000 in the form of a business loan. Each draw down must be fully paid in monthly installments over a two year period. The loan has an effective interest rate of 20%. The loan has been personally and jointly secured by Richard Watson and Dennis Conly.

As part of the agreement with Link Resources, they will be engaged during the early period of the loan to provide consulting services oriented to the further development of business plans, the pursuit of business partners, and the development of future financing strategies.

In the early part of fy 2007/08 Golfmax will be drawing down approximately $200,000 from the loan agreement. These funds will be used for the following:

» Program Contract with Ernex $7,500
» Loyalty and Gift Card Purchase $12,500
» New Server from Sun $15,0000
» SAS software upgrade and renewal $20,000 (est)
» Link Resources Consulting $30,0000
» Contracted Technical Support $15000
» Marketing and Operational Expenses $100,000