The remaining partner was at wit’s end, was behind on the company’s obligations, and was wondering how to survive.
That’s when I went to work, found a private party to lend the suffering partner just enough money to weather the storm and keep on keepin’ on. All it took was $15,000 to make it through the slow season of a seasonal business.
“Carter, you saved the business,” said the grateful survivor.
The next year, the same private lender lent another $45,000 to consolidate debt and drop the interest rate on the obligations from an average of 25% to 10%, which greatly increased the cash flow.
The surviving business owner is now doing extremely well, and all because a distraught business owner was given a little bit of help when the banks wouldn’t touch him.