Face The Facts

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

By George M. Dawson • Sep 1, 2000

Opinions expressed by Entrepreneur contributors are their own.

Q: We're in our secondyear of a loan for our camera shop, and we're now havingtrouble making payments. How should we deal with our bank?

A: Focus on why your cashflow is down from last year. Create a plan to correct the problem;detailed cash-flow projections will buy time. Develop a strong caseexplaining that immediate repayment will mean losses for thebank.

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