I think we were shut down by the bank yesterday. It was the same old stuff.....no assets, no loan. This is so frustrating considering what the cash flow is for the shipping business. Why can't we be judged on that instead of the assets? There are no service businesses with assets. Web sites don't have assets, technology companies don't have assets, and those are new businesses. We've been in business for almost 5 years and we can't get a loan to grow our territory because our trucks are not an asset and our customers are not an asset. WTF? I am almost at a loss on this. I am beyond frustrated and without words. Our 1 business that has always done well despite the economy and the one that we want to grow now that things are rough in our other businesses, we are not able to get a loan. We are not even asking for that much money....$100k-200k. That is nothing in the world of business.
Talking to the banker she was trying to bring up that if we were a yogurt business it would be so much easier... I nearly smacked her upside the head.... a yogurt business. We are a worldwide shipping business and you are comparing us to a yogurt company. UGHHHHH
We will keep looking for a bank that is willing to help and probably one that is not as conservative as the one that we visited yesterday.

On a better note. I finally ordered my 5hp 60 gallon, 20 CFM air compressor. It should arrive next week sometime along with the wool shipment. I absolutely promise to put up pictures of the studio next week and hopefully have the start of a rug to show. In the meantime I'm just going to complain about the banking industry.

I would love to be able to start my own bank and lend money to businesses and people like us. There is a lot of money to be made in service businesses with no assets and I don't understand why the banking industry can't get it thru their heads.