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Wheres my government bailout?

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posted on Sep, 15 2008 @ 04:05 AM
reply to post by 666Azrael666

Thanks very much for that. it is the thought that counts.

Most here think I am braindead anyway, for all it's worth. Guessin' yer new? Welcome to ATS! lol

posted on Sep, 15 2008 @ 04:18 AM
Not going to work. As the banks fail one by one, those that are left are the ones holding all the cards. The conversation with a surviving bank president might go something like this...

You: Can I get an interest only loan please to save my business?

Bank: You’re kidding right? Only the banks themselves can get those kinds of loans.

You: Well, I’ve been a business customer of your for over 5 years now. Is there any way you can help me out. That is, unless you want me to declare a bankruptcy on the debt.

Bank: Here’s the deal..If you want a loan at 20% interest to save your company from complete ruin then you need to get to the back of the line that outside and going around the corner of the building.

My friends, we are at the beginning of a financial collapse. What you need to do is get rid of another half of your employees and start selling off the portions of your debt that you don’t need. Cancel out the customer accounts that don’t pay what their worth if you have too and consolidate the remaining portion of your business on your largest customers. Start working 80 hours a day again.

The only answers my friend are the tough ones. If your company is in heavy debt, then you need to make some hard choices right now before you are forced to make even harder choices in the near future.

As well, start diversifying your company. Branch out into new markets if you can. Use the fact that you have a business to offer services to other businesses. What does your business do well on its own? Payroll? Deliveries? Manual Labor? Start trying to offer those services to other customers as consolidated services. Offer to do payroll services for other small companies in your sector, or find another company that will do this for you. Use your labor force, if they agree, to do other labor services such as moving, farm labor, or janitorial services.

Basically you have to be creative and resourceful.

posted on Sep, 15 2008 @ 04:45 AM
reply to post by mybigunit

Mate if you're in construction, your business will soon be in negative equity.

Might as well default and allow repossession as long as its not secured against your house.

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