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Wait, this merchant sells $1MM/month and his business has no LOC (line of credit)? No lawyers? Something's not right here.
by Bubbadoo 6y ago
Wait, this merchant sells $1MM/month and his business has no LOC (line of credit)? No lawyers? Something's not right here.
- FpUser 6y agoI am pretty sure they have LOC. I am also pretty sure that said LOC can be easily exceeded in a situations as the one originally described.
- rurp 6y agoThe OP explains in the thread that their lawyer is already involved. I would guess that very few businesses in retail can float 100% of their costs with no income for weeks/months.
- 650REDHAIR 6y ago$1M/month with low margins won’t get you a $4.5m LOC in the best of times let alone a pandemic.