Face The Facts
What to do when you're in a cash crunch and can't make payments on a bank loan
Q: We're in our second year of a loan for our camera shop, and we're now having trouble making payments. How should we deal with our bank?
A: Focus on why your cash flow is down from last year. Create a plan to correct the problem; detailed cash-flow projections will buy time. Develop a strong case explaining that immediate repayment will mean losses for the bank.
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