I need to borrow money (working capital), but do not have a mortgage / guarantee.?

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We sell lubricants re-packaged in bulk in small packages under our own label (Super Lube) in Bangladesh, from July 1991.Meil had 80 employees at the top of our activities (2000-2004), who is now reduced to 40 employees, mostly because many of our money ($ 165,371.00), pursuant to the covenant to pay taxes from 4367 to 814 customers for our clients. We need a fast cash loan or credit-dealing in the supply of lubricants in bulk to continue his business, which would prevent further entrench our staff. The banks here in Bangladesh is of very high interest rates of 15% -25% per year, and they do not pay the loan without mortgage / tagatisena.Sooviks proposed joint venture last resort. Our turnover is $ 230,409.93 per year on average over the past 15 years. Any ideas on how we can overcome this temporary inconvenience?

1 Comment
  1. Reply
    sk1295
    May 16, 2011 at 5:58 am

    Yes, may be u do this already, if not, start to give 7 % discount for payment on the spot. PLus give 4% discount for payment within 2 to 15days. after a month charge a some percentage. Tell your clients that u pay so much interest for money they are blocking. (u will lose little bisuness in the beg. but in the long run the market will do the same)
    For now call all clients and tell them they will receive a 4% discount if they make the payment in 2 weeks after that they will be charged the bank rate or something u think is appriopriate. But dont be scared, If your product, price and service is good, lost customers will be back. have some patience also. start contacting some other sellers and tell them to do the same.

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