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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1009 |
Essay's paper body
In addition, there was a rapid increase in the accounts and notes payable. That is why the company increased its borrowings to $399,000 and negotiated the loan from Suburban National Bank. The company had been able to stay within the limit of the maximum loan that the bank lends out to any borrower. However, this time, the bank asked the company to personally guarantee the loan which changed the mind of the owner...
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The company had been able to stay within the limit of the maximum loan that the bank lends out to any borrower. However, this time, the bank asked the company to personally guarantee the loan which changed the mind of the owner. The owner would not want to personally guarantee a loan that's why he looked for another bank that he could negotiate with without having to require him a personal guarantee...
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