(Banker’s choice – Loan, Don’t Loan, Wait)
Jim’s been busy looking for ways to increase the profit margin within the company. He was pretty discouraged by the Banker’s response but thought he had an opportunity to convince the investor.
Out of the blue, Jim’s banker called him. “Jim how things are going? Has anything changed with the business?”
Jim is proud of his progress. He tells the banker that he’s launched new products, increased profitability. One of the products was doing poorly, but now he’s used it to increase ticket prices and retire unsellable inventory.
The banker was pretty happy with the account. “Any thought about purchasing a building or manufacturing it yourself?”
“No. We’re keeping things virtual” said Jim. The banker said he’d love to hear from Jim if he changed his mind.
Jim didn’t think he’d be calling the banker anytime soon.
Banker’s Choice: No loan without collateral
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