GroundbreakingRush74@alien.topB to Small BusinessEnglish · 10 months agoBorrow 300k for a cofe Shopmessage-squaremessage-square11fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1message-squareBorrow 300k for a cofe ShopGroundbreakingRush74@alien.topB to Small BusinessEnglish · 10 months agomessage-square11fedilinkfile-text
I was wondering, what if I borrow 300k and in the worst case I will sell everything and paye back my dept?
minus-squareHuman_Ad_7045@alien.topBlinkfedilinkEnglisharrow-up1·10 months agoThe worst case is a $300k death spiral. You don’t sell enough cofe (coffee?). You go out of business. You owe the lender $300k. You file personal bankruptcy. You turn the assets of the code shop to a court appointed Bankruptcy Administrator and they try to recover some of the lender’s losses.
The worst case is a $300k death spiral.
You don’t sell enough cofe (coffee?).
You go out of business.
You owe the lender $300k.
You file personal bankruptcy.
You turn the assets of the code shop to a court appointed Bankruptcy Administrator and they try to recover some of the lender’s losses.