Conversation with a lender this week:
"So you are seeking $1.95M at close of the transaction?
"Yes"
"What assets does the business have"?
"Little to none, it is obviously a service based business like we discussed previously"
"Ok, we will need $1.95M in collateral in the form of cash"
"I understand. So you require $1.95M in cash so that you can loan me $1.95M to close the transaction?"
"Yes"
Genius lender
by a searcher
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