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If the council were lending I would grab the cash , buy a Beamer, watch England in the windies, pay off debts and then pre pack the business with a dodgy ip (we all know a few)

More seriously they need a bank and experienced credit people to run and monitor it to make sure the above doesn't happen. Banks won't like it because it undercuts their lending. Then you have the issue of who has the debenture

[QUOTE="clivex, post: 2469975, member: 65326"] If the council were lending I would grab the cash , buy a Beamer, watch England in the windies, pay off debts and then pre pack the business with a dodgy ip (we all know a few) More seriously they need a bank and experienced credit people to run and monitor it to make sure the above doesn't happen. Banks won't like it because it undercuts their lending. Then you have the issue of who has the debenture [/QUOTE]

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