Today we were supposed to sign an already approved leasing that was going to cover the ice-cream counter and bar furniture
Unfortunately, due to Bank's policy sudden change, we were told leasing was not anymore granted unless we agreed to locked-up deposit 75% of the amount as a guarantee.
So in summary, we were going to pay interest for 100% of capital while only getting 25%
Far more than we would pay for getting 25% at normal loan rates!
We had to stop the Italian supplier who was already loading the truck and delay the shipment
After considering all options,we decided not to go ahead with the leasing and simply count on our resources and different types of loans
Pity the trick implied money loss and a week delay in opening
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