Double H Oil Tools, Inc. | Application Preview
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General Information
Business Registration Number: 12705249071
Location: Salinas, CA, United States
Length of Operation: Eleven -- Incorporat
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
At this moment in time, we are current on each of our financial obligations. However, without work, the company has no revenue stream with which to meet its pending obligations. First, the funds will be used to survive. Second, a small portion of the funds will be used to bring the rig into top shape. And last, as we reenter the field, we may be required to bid on projects at below our fully recoverable cost, requiring the need to supplement this fresh start, which is critical to creating immediate work and supplemental demand, ensuring long term success. In terms of funding, our immediate preference is a grant. Second, we will consider a loan. Also and the potential of an outside investor.
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Business Plan
First is survival. Second, our operation is comprised of two fully functioning rigs. With additional demand, we'll have the ability to add units to the operations. Our industry is plagued with tremendous peaks and valleys -- My goal is to read the critical signs and be better prepared for each of those future events. First, we are a small tight, well managed and operated business. Administratively, we know our numbers and can react to rapid changes within our industry and company. Second, as this temporary situation passes, and the nation returns to work, we will be fully prepared to not only return an investor's loan, but with a fair rate of interest as well.
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Self Identified Competition
Holman Well service Weatherford S & J Well Service King well Service As an independently owned & operated company, we can directly influence both our direct and indirect cost. Second, I've been in this industry for thirty years, the last eleven as an owner. I have succeeded in an extremely competitive business. Our key workers are quality men, with great skills and experience, a definite plus in our favor.
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Contact Applicant
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