My wife asked why the supplier could not be the collateral.

After I became an Heating, Ventilation, plus A/C specialist, I set my five-year plan in action, but i knew that within five years I wanted to not just be an Heating, Ventilation, plus A/C specialist, although I wanted to be well on the way to owning an Heating, Ventilation, plus A/C business. I was toiling overtime for the next five years, while my wife took supplier classes to learn how to run a business, then she was going to be a full supplier partner, and while I worked with the Heating, Ventilation, plus A/C side of the business, she was going to do the supplier that went with it… Five years later, I was getting ready to talk to the bank plus see if they would help me finance the business, my wife had all the paperwork the bank asked for, plus we had our five-year supplier plan carefully laid out! Before the bank could ask for the paperwork, my wife was handing it to them, however 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 supplier the way she planned for it, there was no reason we could not have a successful Heating, Ventilation, plus A/C business. When he asked about collateral, we knew it was the one thing we hadn’t planned for. My wife asked why the supplier could not be the collateral. They would own all the equipment because it would be their money that bought it. My associate and I were paying them back plus using the equipment while paying them for it. It was like a rent-to-own situation. The loan officer laughed at her reasoning plus approved our loan.

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