I'm thinking of the difference in interest rate and repayment structure between consumer credit card debt and small business loans from a local retail bank branch. credit cards constrained by too high interest. small business loans constrained by too selective acceptance.
a relatively small loan would have kept the original owner in place. the sale to new owner was at a distressed price (for obvious reasons) and original owner would have been better off with a loan if it had been available.
-
-
under normal circumstances he might have been able to get a loan. this all went down in 2009 when the credit market was dry and tight so for reasons having nothing much to do with the business itself he kinda got a raw deal.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.