Can I Please Borrow $100,000? Tea Party says. . . NO!!

Andy Badolato

4/26/2010

Would you provide a $100,000 loan to a company or an individual who;

1. Has personally guaranteed short and long term debt of $1,630,000.
2. Has $100,000 in questionable non liquid balance sheet assets with no savings.
3. Has current income of $240,000 per year, but is currently spending $350,000 per year on his planned and budgeted bills and expenses. The next 5 years of budgets and financial projections that they provide also show expenses and fixed bills exceeding their income by an average of 30% every single year.

What would your answer be? What would a bank say?

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