My wifey asked why the company could not be the collateral.

After I became an Heating and Air Conditioning professional, I set my five-year plan in action! I knew that within five years I wanted to not just be an Heating and Air Conditioning professional, although I wanted to be well on the way to owning an Heating and Air Conditioning company. I was working overtime for the next five years, while my wifey took company classes to learn how to run a company… She was going to be a full company partner, then while I worked with the Heating and Air Conditioning side of the business, she was going to do the company that went with it, and five years later, I was getting ready to talk to the bank and see if they would help me finance the business, then my wifey had all the paperwork the bank asked for, and my buddy and I had our five-year company plan carefully laid out; Before the bank could ask for the paperwork, my wifey was handing it to them! The loan officer who worked with us was impressed with how much she had prepared for him! He told us that if she ran the company the way she planned for it, there was no reason my buddy and I could not have a successful Heating and Air Conditioning company. When he asked about collateral, my buddy and I knew it was the one thing my buddy and I hadn’t planned for. My wifey asked why the company could not be the collateral. They would own all the unit because it would be their cash that purchased it. We were paying them back and using the unit while paying them for it. It was like a rent-to-own situation. The loan officer laughed at her reasoning and approved our loan.

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