=+3 (Examination level) Gordons ple has an annual turnover of f3m and a pre-tax profit of £400,000. It is not quoted on a stock exchange and the family which own all the shares have no intention of permitting the sale of shares to outsiders or providing more finance themselves. Like many small and medium-sized firms, Gordons has used retained earnings and a rolled-over overdraft facility to finance expansion. This is no longer seen as adequate, especially now that the bank manager is pushing the firm to move to a term loan as its main source of external finance.