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Yes, even though my company was (sold my shares, it still is I think) profitable and wildly successful for the region, we needed a million euro from the bank to
by tluyben2 7y ago
Yes, even though my company was (sold my shares, it still is I think) profitable and wildly successful for the region, we needed a million euro from the bank to cover staff costs. Money comes in slower than it goes out in our business, but we had reputable clients so the bank had no issue providing a line of credit against signed contracts and sent invoices.
It was easier (and better imho) than getting an investor. Bank did not meddle in our business, just took interest (if we could pay it; it compounded for 3 years if I remember correctly).
- akrai 7y agoThanks for replying! That was very helpful!