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                                                                   EXHIBIT 10.34


                              SEVENTH AMENDMENT TO

                           LOAN AND SECURITY AGREEMENT

         THIS SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this
"Amendment"), dated as of October ___, 2000, is entered into among FINOVA
CAPITAL CORPORATION, a Delaware corporation ("FINOVA"), and Oakhurst Company,
Inc., a Delaware corporation ("Oakhurst"), Steel City Products, Inc., a Delaware
corporation ("SCPI"), Dowling's Fleet Service Co., Inc., a New York corporation
("DFS"), Oakhurst Management Corporation, a Texas corporation ("OMC"), Oakhurst
Holdings, Inc., a Delaware corporation ("OH"), and G & O Sales Company, a
Pennsylvania corporation ("G&O"), jointly and severally (individually, a
"Borrower" and collectively "Borrowers").

                                    RECITALS

         A. Borrowers and FINOVA have previously entered into that certain Loan
and Security Agreement dated as of March 28, 1996, as amended by that certain
First Amendment to Loan and Security Agreement dated as of June, 1996, that
certain Second Amendment to Loan and Security Agreement effective as of June 1,
1997, that certain Third Amendment to Loan and Security Agreement effective as
of October 31, 1997, that certain Fourth Amendment to Loan and Security
Agreement effective as of December 29, 1998, that certain Fifth Amendment to
Loan and Security Agreement effective as of March 29, 1999, and that certain
Sixth Amendment to Loan and Security Agreement effective as of June 30, 2000
(collectively, the "Loan Agreement"), pursuant to which FINOVA has made certain
loans and financial accommodations available to Borrowers. Capitalized terms
used herein without definition shall have the meanings ascribed to them in the
Loan Agreement.

         B. Borrowers are now requesting FINOVA to amend and modify the Loan
Agreement and other Loan Documents in certain respects.

         C. FINOVA is willing to accommodate the foregoing requests upon the
terms and conditions set forth below. Each Borrower is entering into this
Amendment with the understanding and agreement that, except as specifically
provided herein, none of FINOVA's rights or remedies as set forth in the Loan
Agreement nor any Event of Default is being waived or modified by the terms of
this Amendment.

                                   AGREEMENTS

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants herein contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereby
agree as follows:

         1. Total Facility. With respect to Section 1.1 of the Loan Agreement
and the corresponding Section of the Schedule thereto, the Total Facility for
all Loans shall be Seven Million Two Hundred Fifty Thousand Dollars ($7,250,000)
until the DFS Maturity Date (as defined in the Sixth Amendment to Loan and
Security Agreement) and Four Million Five Hundred Thousand Dollars ($4,500,000)
thereafter.


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         2. Maximum SCPI Revolving Loans. With respect to Section 1.2 of the
Loan Agreement and clause (A)(b)(ii)(y) of the corresponding Section of the
Schedule thereto, the Revolving Loans to SCPI shall not exceed Four Million Five
Hundred Dollars ($4,500,000) in the aggregate outstanding at any time.

         3. Concentration Limitations. With respect to clause (viii) of the
definition of "Eligible Receivables" in Section 18.1 of the Loan Agreement, the
concentration limitations (with respect to the Receivables of SCPI) shall be
thirty percent (30%) for Ames Department Stores, Inc., and twenty percent (20%)
for each of Kroger Co. (and its subsidiaries) and American Sales.

         4. Effectiveness of this Amendment. The effectiveness of this
Amendment, the consents and agreements provided herein and any extension of
credit by FINOVA to Borrowers as provided by this Amendment, is subject to the
fulfillment of each of the following conditions:

            (a) Amendment. FINOVA shall have received this Amendment, fully
         executed in a sufficient number of counterparts for distribution to
         FINOVA and Borrowers.

            (b) Authorizations. FINOVA shall have received evidence that the
         execution, delivery and performance by each Borrower of this Amendment
         and any instrument or agreement required under this Amendment have been
         duly authorized.

            (c) Representations and Warranties. The Representations and
         Warranties set forth in the Loan Agreement must be true and correct.

            (d) Payment of Amendment Fee. Borrowers shall have paid to FINOVA an
         amendment fee equal to Five Thousand Five Hundred Dollars ($5,500) in
         consideration of the amendments provided herein, which fee shall be
         deemed fully earned as of the date hereof.

            (e) Other Required Documentation. All documents and legal matters in
         connection with the transactions contemplated by this Amendment shall
         have been delivered or executed or recorded and shall be in form and
         substance satisfactory to FINOVA.

         5. Fees and Expenses. Each Borrower hereby confirms that pursuant to
Section 13.1 of the Loan Agreement, Borrowers shall reimburse FINOVA for all
costs, fees and expenses incurred by FINOVA in connection with the negotiation,
preparation, execution, delivery, administration and enforcement of this
Amendment, including, but not limited to, attorneys' fees.

         6. Representations and Warranties. The Borrowers, jointly and
severally, represent and warrant as follows:

            (a) Authority. Each Borrower has the requisite corporate power and
         authority to execute and deliver this Amendment, and to perform its
         obligations hereunder and under the Loan Documents (as amended or
         modified hereby) to which it is a party. The execution, delivery and
         performance by each Borrower of this Amendment, and the


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         performance by each Borrower of each Loan Document (as amended or
         modified hereby) to which it is a party have been duly approved by all
         necessary corporate action of such Borrower and no other corporate
         proceedings on the part of such Borrower are necessary to consummate
         such transactions.

            (b) Enforceability. This Amendment has been duly executed and
         delivered by each Borrower. This Amendment and each Loan Document (as
         amended or modified hereby) is the legal, valid and binding obligation
         of each Borrower hereto or thereto, enforceable against such Borrower
         in accordance with its terms, and is in full force and effect.

            (c) Representations and Warranties. The representations and
         warranties contained in each Loan Document (other than any such
         representations or warranties that, by their terms, are specifically
         made as of a date other than the date hereof) are correct on and as of
         the date hereof as though made on and as of the date hereof.

            (d) No Default. No event has occurred and is continuing that
         constitutes an Event of Default, other than the Existing Default (as
         defined in the Sixth Amendment to Loan and Security Agreement).

         7. CHOICE OF LAW. THIS AMENDMENT SHALL BE INTERPRETED IN ACCORDANCE
WITH THE INTERNAL LAWS (AND NOT THE CONFLICT OF LAWS RULES) OF THE STATE OF
ARIZONA GOVERNING CONTRACTS TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. EACH
BORROWER HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL
COURT LOCATED WITHIN THE COUNTY OF MARICOPA, THE STATE OF ARIZONA OR, AT THE
SOLE OPTION OF FINOVA, IN ANY OTHER COURT IN WHICH FINOVA SHALL INITIATE LEGAL
OR EQUITABLE PROCEEDINGS AND WHICH HAS SUBJECT MATTER JURISDICTION OVER THE
MATTER IN CONTROVERSY. EACH BORROWER WAIVES ANY OBJECTION OF FORUM NON
CONVENIENS AND VENUE. EACH BORROWER WAIVES PERSONAL SERVICE OF ANY AND ALL
PROCESS UPON THEM, AND CONSENTS THAT ALL SUCH SERVICE OF PROCESS BE MADE IN THE
MANNER SET FORTH IN SECTION 19.13 OF THE LOAN AGREEMENT FOR THE GIVING OF
NOTICE. EACH BORROWERS FURTHER WAIVES ANY RIGHT THEY MAY OTHERWISE HAVE TO
COLLATERALLY ATTACK ANY JUDGMENT ENTERED AGAINST THEM.

         8. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties and separate counterparts, each of which
when so executed and delivered, shall be deemed an original, and all of which,
when taken together, shall constitute one and the same instrument. Delivery of
an executed counterpart of a signature page to this Amendment or by
telefacsimile shall be effective as delivery of a manually executed counterpart
of this Amendment.

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         9. Reference to and Effect on the Loan Documents.

            (a) Upon and after the effectiveness of this Amendment, each
         reference in the Loan Agreement to "this Agreement", "hereunder",
         "hereof" or words of like import referring to the Loan Agreement, and
         each reference in the other Loan Documents to "the Loan Agreement",
         "thereof" or words of like import referring to the Loan Agreement,
         shall mean and be a reference to the Loan Agreement as modified and
         amended hereby.

            (b) Except as specifically amended above, the Loan Agreement and all
         other Loan Documents, are and shall continue to be in full force and
         effect and are hereby in all respects ratified and confirmed and shall
         constitute the legal, valid, binding and enforceable obligations of
         each Borrower to FINOVA.

            (c) The execution, delivery and effectiveness of this Amendment
         shall not, except as expressly provided herein, operate as a waiver of
         any right, power or remedy of any FINOVA under any of the Loan
         Documents, nor constitute a waiver of any provision of any of the Loan
         Documents.

            (d) To the extent that any terms and conditions in any of the Loan
         Documents shall contradict or be in conflict with any terms or
         conditions of the Loan Agreement, after giving effect to this
         Amendment, such terms and conditions in the Loan Documents are hereby
         deemed modified or amended accordingly to reflect the terms and
         conditions of the Loan Agreement as modified or amended hereby.

         10. Ratification. Each Borrower hereby restates, ratifies and reaffirms
each and every term and condition set forth in the Loan Agreement, as amended
hereby, and the Loan Documents effective as of the date hereof.

         11. Estoppel. To induce FINOVA to enter into this Amendment and to
continue to make advances to Borrowers under the Loan Agreement, each Borrower
hereby acknowledges and agrees that, after giving effect to this Amendment, as
of the date hereof, there exists no Event of Default other than the Existing
Default (as defined in the Sixth Amendment to Loan and Security Agreement), and
no right of offset, defense, counterclaim or objection in favor of any Borrower
as against FINOVA with respect to the Obligations.

                     [THIS SPACE INTENTIONALLY LEFT BLANK.]


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         IN WITNESS WHEREOF, the parties have entered into this Amendment as of
the date first above written.

                                      FINOVA CAPITAL CORPORATION



                                      By: /s/ FRANK MONZO
                                         ---------------------------------------
                                      Name:   Frank Monzo
                                           -------------------------------------
                                      Title:  Vice President
                                            ------------------------------------



                                      OAKHURST COMPANY, INC.



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  President
                                            ------------------------------------


                                                     STEEL CITY PRODUCTS, INC.



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  Chief Financial Officer
                                            ------------------------------------


                                      DOWLING'S FLEET SERVICE CO.



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  Director
                                            ------------------------------------



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                                      OAKHURST MANAGEMENT CORPORATION



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  Director
                                            ------------------------------------


                                      OAKHURST HOLDINGS, INC.



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  Director
                                            ------------------------------------


                                      G & O SALES COMPANY



                                      By: /s/ MAARTEN HEMSLEY
                                         ---------------------------------------
                                      Name:   Maarten Hemsley
                                           -------------------------------------
                                      Title:  Director
                                            ------------------------------------