Chapter 100 The Loan Application Was Declined

• At Edwards Group, Glen was in his office. The lights were off. He told his assistant that should anyone look for him he wasn’t available. He was hiding from Ravi; a three-day deadline was up. The bank hadn’t contacted him yet. During the verification process, they found out that Edwards Group’s biggest client was declared insolvent. The bank decided not to grant Glen Edwards a loan. At that moment, his phone rang. He hesitated but he decided to take a call, “Hello Mr Edwards, I’m calling from the bank, your loan application was declined because your company cash flow is not enough to meet its financial obligations since your biggest client was declared insolvent.” Glen Edwards was dumbfounded, he felt like crying since the bank approached him first. “If I revise the loan amount, would you reconsider?” The lady from the bank replied, “We will not reconsider, how are you going to pay the foreign company? We don’t think you will be able to honor your loan repayment. When your financial situation is improved, please contact us.” Glen Edwards was so upset he hung up the phone without saying goodbye. He regretted not approaching them when they offered him a loan.
• He was cursing himself for being careless. He was supposed to take precautions. He was supposed to stop the consignment since his biggest client told him that they were facing a legal dispute. They indicated that their legal team told them that they might lose the case and they advised him to cancel the consignment, but he didn’t listen. He thought they would win the court case. He felt that the judgement was too harsh. It put his company on its knees, and no one was willing to help him. His best friend Patrick kicked him when he was down. He sent the Debt Collector to his doorstep. He forgot that he was gloating when Lewis Group was facing bankruptcy.
• The bank was his last resort. Should he visit the loan sharks? Maybe he could visit a casino to try his luck, but he was not a gambler. He decided to call Ravi, “Hello Mr Ravi, I understand that my three-day deadline is up, but I don’t have money to pay you. The bank rejected my loan application, is it possible to grant me an extension?” Ravi sneered, “Send a notice of business closure to your suppliers, clients, and your employees by the end of business. I will find a buyer for your office building.” Glen Edwards was so shocked; his company was his life. He took his phone and dialed a number, “Robert, come to my company now.” Robert was dumbfounded. His father never asked him to come to the company before, “what happened, Dad? I’m not in the country.” His father was so upset that he was facing a crisis alone and his beloved son was gallivanting with his friends. “Where are you, Robert?” He told his father that he was in Paris with his friend to visit the Eiffel Tower. His father was so angry, but he suppressed his anger, “Robert, the company is facing a crisis. Come back home immediately.” Robert was so shocked because his father told him that the company was doing well. “Why don’t you ask Uncle Patrick to lend you money?” His father was fuming when he heard his son mentioning Patrick’s name and replied, “Robert, don’t you ever mention Patrick’s name to me in future, he asked Mr Anthony not to approve my proposal then he gave me three days to pay him back the money I owe him. Since I missed the deadline, I called Ravi, the Debt Collector and asked for an extension but he told me that he would find a buyer for my office building. What am I going to do, Robert? I’m going to be a laughingstock to my friends because when my company was flourishing I cut all my ties with them.” Robert was dumbfounded, where was he going to get his monthly allowance from? “Dad, go and beg Uncle Patrick and ask for forgiveness.” Glen Edwards didn’t want to beg Patrick, but he didn’t have a choice. He quickly hung up the phone, and then he took his car keys.