Veteran Forum Contributor [3219 posts]
Posted 01/06/2005, 01:45:45

I am interested in two things…

1. What makes you think your wife cannot get half or more of your company?

2. Why do you think that more experienced and much larger operators pay more than a one-out operator like yourself?

I dont think companies like woolies etc pay more than…[Read more]

Posted – 31/05/2005 : 15:26:25

You are in for a shock if you think it is YOUR company. Your wife owns half of it at the very least. Probably more!!!

What are your terms by the way? Do you just want the money for FREE and unsecured?

The Mortgage Adviser

Anyone who tries to take it is in for a much bigger shock I can assure you.
My terms?Do i…[Read more]

Lets see how spot on they are as time goes on.
Yes I have serious issues with banks.But I took 10 cents literally and turned it into a decent business that is growing.The first thing I sold out of bankruptcy I did not even own nor could afford to buy.I sold it got paid for it and used the buyers money to purchase the goods so I could deliver…[Read more]

For weeks you have been telling me what nice people banks are.
And the fact this couple is a nice couple is totally irrelevant.I am the biggest mongrel in the world yet that should not matter when it comes to business.

You still wnat to try to tell me banks are rational?

gf

As for references from a shipping company, what purpose does this serve? You have to pay these guys or you don’t get your stock off the wharf. They don’t sell you your products, they just transport it. Where are the references from your suppliers?

Untrue.I have a 30 day account and can take 30 days to pay although I always pay on day 1.

My wife…[Read more]

Veteran Forum Contributor [3180 posts]
Posted 29/05/2005, 18:54:41

You are being totally irrational.

A company costs a few hundred dollars to set up which makes the actual company pretty worthless. It is the trade and assets of the company that has value.

The compan has trade figures and assets.It also has credit references from a very large…[Read more]

Well obviously if you have an account with them they would know how much is in the account.So saying I must be doing business with them is silly.

Why do I go on about it?It is a matter of principle and because I could grow my business faster with more cash on hand.

Anyway I dont want to argue with you but I have decided now that if banks lend me…[Read more]

Veteran Forum Contributor [3128 posts]
Posted 17/05/2005, 12:18:38

Originally posted by upandcoming:
… I also blaim the banks and finance companies.

Did anyone twist your arm or was that letter they sent you scary enough to make you think that if you did not accept the offer of finance each time, something bad would happen to you?

It…[Read more]

The Mortgage Adviser
Veteran Forum Contributor [2828 posts]
Posted 14/05/2005, 10:15:36

What was your reason for no income?

I had a dead end job with no prospects.Banks kept throwing cards and loans at me.I was young and had little commonsense and after years of paying them off and paying interest on interest I had enough and just gave up the…[Read more]

BigJobs
Still finding my forum feet [18 posts]
Posted 15/05/2005, 09:59:24

Big Jobs your inclination is incorrect as far as I am concerned.My company owns no property and neither do I.Turnover is increasing,I have never bounced a cheque nor gone over the limit.My assets are the goods in stock,invoiced customers and the way I operate the…[Read more]

You must read all of the findings not just one piece.And in that case the woman also had a case for unjust enrichment anyway.
However the moral is that nobody should ever sign contracts with essence clauses unless they are certain they wont get in a problem.

gf

Yes Robert but I am not in the property management business either.
As I said it is now irrelevant what the banks require.

My company cannot do business with banks.

gf

I went bankrupt.
I was bankrupt for 3 years.I repaid none of the debts nor was I asked to repay any of the debts.

I was bankrupt because I had debts and no income.Now I have income and no debts.

gf

ANZ do not give ratings to companies. A small and relatively new company is only as strong as the Directors behind it. You need at least two years full company tax returns showing healthy profits to be able to borrow solely on the company figures.

Robert I can only say what the ANZ business lending person said to me and that is what he said,that…[Read more]

Robert I am not asking to borrow money.The company is.The company has a AAA+ credit rating according to ANZ.The company is an independant legal entity.It is cashflow positive and has nil debt with increasing turnover.
I have argued black and blue with banks and now you.I no longer want or need bank credit.
A friend of mine has repeatedly told me…[Read more]

The Mortgage Adviser
Veteran Forum Contributor [2692 posts]
Posted 09/05/2005, 19:26:22

Just to make you feel comfortable, even if it settles a few days late, it won’t be overly expensive as long as you don’t have any time is of the essence clauses or other wierd clauses in the contract.

Stick to mortgage advice because your legal advice is…[Read more]

I know where you are coming from.
I built my company over 18 months of hard work.I am still building it.Turnover is good.In the first 2 months of the year $218,000.00 went through the account.I have never bounced a cheque nor gone over not even for 5 cents.
I have no property but thought surely the bank would give me a hearing.last night I was…[Read more]

You can’t do everything yourself. You will grow to a point where you need staff or stop growing. You also need to store stock so rent will also be required. Again, a business plan would have identified this.

Basically, I am trying to convince you to either do a business plan or pay for one to be done for you and you may be pleasantly surprised of…[Read more]

You seem to offer a lot of guarantees. How can you be certain of competitors going under? What is to stop them from commencing a new division to compete with your business just like the major supermarkets did with online shopping?

They certainly have the buying power, contacts and skill to do so very quickly should they feel threatened. I am…[Read more]

You told us you were already offered 36% finance. That means you can get it if you want to pay that much. Regarding your refusal to do a business plan, there is a very old saying… “Business do not plan to fail, they fail to plan!?

Seeing you need them to help you and they do not need you, I think you should be a little flexible in meeting their…[Read more]