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Inexperience with borrowing procedures often creates resentment and bitterness. The stories of three small business persons illustrate this point.
“I’ll never trade here again,” Bill Smith said when his bank refused to grant him a loan. “I’d like to let you have it, Bill,” the banker said, “but your firm isn’t earning enough to meet your current obligations.”
Mr. Smith was unaware of a vital financial fact, namely, that lending institutions have to be certain that the borrower’s business can repay the loan.
Tom Jones lost his temper when the bank refused him a loan because he did not know what kind or how much money he needed. “We hesitate to lend,” the banker said, “to business owners with such vague ideas of what and how much they need.”
John Williams’ case was somewhat different. He didn’t explode untilOther Details
- 2 Ebooks (PDF, DOC), 18 Pages
- 1 Ecover (PNG)
- Year Released/Circulated: 2008
- File Size: 192 KB
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