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breach of business loan agreementbreach of business loan agreement

Banking »Posted 14 Jul 2011 Post Answer

legal question Dear counsel,

I am contacting you in regards to a breach of business loan agreement with
a client in your locality. I provided a loan to the company so that they
can meet up with their management and operational obligation during the
rough economic climate of last year. I provided the company with an
emergency loan of $260,000 with a term of 24 months and fixed interest
rate of 6.0%. The repayment period has since elapsed but the company has
been unable to finalize the repayment of the loan and have only paid
$85,000.00 till date. Let me know if this falls under the scope of your
practice so that I can provide you with more information on this matter.


Best Regards
Michael Chang



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