A credit union member with 20 years of perfect payment history lost a $300,000 line of credit overnight due to banking pressures, despite rising revenue. His warning that "bankers are your friend until they're not" came true when the credit union pulled the plug without notice.
And at the point they were asking, his revenue was actually back higher than it had been previously. Wow. But the credit unions were being squeezed. And this goes back to the Silicon Valley stuff and all that. They were being squeezed and they were having to pull lines of credit because they didn't have— they didn't have the lending capacity anymore. So a guy who had never missed a payment in over 20 years lost over $300,000 in a line of credit just overnight, out of nowhere, with no warning whatsoever. You know, in fact, the conversation that we had had Previous to that, in 2021, he even said, he goes, you know, these bankers are your friend until they're not, right? And, and then a year later, he literally experiences it personally. And so he was very thankful that he had started doing— working with me and then ultimately working with us.
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