A ratchet includes a spool rotatably disposed within a housing and supporting a cord having opposed cord sections extending from the housing. Tension to one cord section is initially applied by pulling on the other cord section. To increase the tension, a tool is engaged with the spool to apply a further force to increase the tension on the one cord section. In another embodiment, a cord enters the housing and into the center of a hollow shaft supporting a spool and drawn through the hollow shaft to establish an initial degree of tension on the section of the cord entering the housing. A lever cooperating with the spool turns the spool to wrap the cord about the spool and increase the tension on the cord. In a third embodiment, a cord enters a housing and extends about a spool supported within the housing and thereafter exits the housing. A pivotable lever incrementally rotates the spool to increase the tension on the cord entering the housing. To further increase the tension on the spool, a wrench or the like may engage the shaft supporting the spool in any of the ratchets described.