I usually do not like raising money for clients in the first month, because we do not yet know how much money we will need and I know it is not good to come to the bank frequently and try to raise large sums. This indicates a lack of seriousness and lack of control over the situation ,
And undermines the Bank’s confidence in the customer.
This time it was different to my surprise.
A client came in, a serious man with a business in the field of execution.
Performance is characterized by poor payment ethics.
The term flooding is apparently invented on this field.
The customer made an excellent impression on me, a reliable and serious person who would be happy to work with.
We started the escort and everything looked great, even before he reached us
He quickly built an excellent business that knows how to bring work and carry it to the customer’s satisfaction.
He had already reached turnover of several million shekels a year and when he came he told me that he thought the financial component was beginning to weigh on him, that he did not understand it and he had the feeling that his growth was beginning to make a mess in finance.
Well, we started collecting data as we always do at the beginning of the escort
And after a total of three days, suddenly a bang,
Nothing prepared me for the urgent phone call:
“Rotem, listen, I have to organize 600,000 shekels in two weeks.”
I told myself how it might have been that he had not told us.
It turns out that he had a check that was deducted by the bank
And amounts he was supposed to receive from customers,
Were rejected in a month, so from the moment to relax.
Since it came to us without a financial system and with poor risk management
He was not protected by the bank for such a move.
I immediately sent him to talk to the bank to understand our situation
And whether the bank will be willing to defer repayment of the loan
Or at least deploy it for a long period.
Because this is really a very reliable and honest man
You hoped the bankers would locate the request.
But … they said: “Really, no.”
The client who was indeed with excellent business success
But weak against the banks, very stressed.
The truth is that I, too, was stressed
To raise immediately, especially when the bank that knows the customer,
Not interested in getting involved.
From there I made several calls and within an hour
A real battle procedure took about 10 days.
Fortunately for the client we found money in provident funds,
It was good that he was an employee before he opened the business
We have organized a portfolio of several loans in total
Of NIS 200,000 and at low interest rates.
At the same time we began the difficult process of
To open an account in a new bank that does not know the customer
And try to raise the missing NIS 400,000 from him.
This operation does not just bring within a few days such an amount
From a new bank.
It was impossible to take action against the funds that provide credit,
Since it takes at least a month for the money to be seen.
So as you understand, time did not stand in our favor,
But the impression the customer leaves with everyone
Who spoke to him and a quick reflection of the excellent business situation, actually worked pretty well and helped us open the door and get the protection from the new bank that entered the game.
About three days before the fateful date, we all breathed a sigh of relief, the feeling was good.
We would have relinquished all this pleasure,
The client had spent two weeks from hell, he did not know what cash flow problems were and experienced them first in a boom.
In one moment he went into a spin and a set of pressures he had never known, and it was one that had gone through some things in life.
Certainly an unpleasant situation that many people experience as part of their daily routine and for years.
So guys, it’s true that sometimes it works, but I recommend that everyone get ahead of it, build a financial system as soon as possible
And manage risks wisely.
Besides making more money, you can sleep a whole night quietly,
Provided you do not have small children