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Face The Facts

What to do when you're in a cash crunch and can't make payments on a bank loan

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This story appears in the September 2000 issue of Entrepreneurs Start-Ups magazine.

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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