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Berkonomics
DECEMBER 12, 2019
As loan covenants become closer to being violated or after such an event, bankers have some latitude in deciding how to handle their accounts. Upon discovery of a violation of loan covenants or even when a banker hears of bad news without prior notice or updates, bankers sometimes turn the company over to the bank’s workout group – a place you never want to visit. The warning is real.
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