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He doesn't want them to invest, he wants a collateralized loan.
by Traster 6y ago
He doesn't want them to invest, he wants a collateralized loan.
- tomcam 6y agoUnfortunately those cool old buildings are horrible collateral. If he fails the bank simply cannot recover its costs. And he will fail because if the buildings can even be legally rehabbed it will take years and at least a million dollars or so just to get the doors open.