Lended money

I lent a friend $300 for rent with the VERBAL agreement that he would pay me back in 4-5 days. I foolishly DID NOT have him sign anything. This occured in August 2000 and he keeps promising to pay me back, but I have yet to see the money. I have the proof of when I took the money out of my savings account in the exact sum of $300 and one witness that actually saw me give him the money. That's the only "evidence" I have.
Do I have a case?

Send a certified RRR letter to him, outlining the situation: when you lent him $, why, when, repayment, etc. The basic gist, so you have a written statement as evidence if you need to file small claim on it. Also state in letter that if he doesn't respond to this letter in a certain amount of time, i.e. 15 days, 30 days, whatever you choose, that you will take a non response to this letter as acknowlegement that he owes the money and is not attempting to make payment and that you will proceed with legal action.

Then go from there.