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USA | Know of a situation where a fellow has equity to burn on owned land, working capitol of about zero and cash flow in the same boat.
Poor management the last several years has got in him into this pickle. Went to a different bank to apply for a loan to restructure as was having issues with his current bank . Even though he had plenty of equity bank turned him down because he couldn't show the ability to pay the debt , based on his performance the last several years. Some kind of banking regulation prohibits the bank from making a loan, if the borrower can't show the ability to make the payments, was how it was explained . | |
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Working Capital 2016
