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E SD | Working capital always matters, thinking it shouldn't or doesn't can be a fatal mistake. Relying on equity is fine when things are on the way up. Cash & liquidity matter on the way down. Young guys won't have it, that's the way it is and always has been. Growth is expensive.
I can tell you the metrics we use to rate borrowers are a combo of : working capital, leverage, repayment ability, collateral position, and change in net worth.
You may not think it's important, but lenders and individuals lending money at risk do.
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Pknoeber and other bankers- working capital from down below
