Billionaire Tilman Fertitta Offers Record 15% Loan Rate to Save Empire.

His company has already drawn $300 million of existing credit lines in full and Fertitta is injecting $50 million of his own cash into the business. The businessman is offering potential lenders an interest rate of at least 15% to participate in a new $250 million loan.

Read the full article at https://finance.yahoo.com/news/billi...201428078.html

I find inspiration in stories like this. Here is a guy that probably has more money to last several lifetimes over but is not going out with out a fight. So much so, that he is willing to bet on himself and put 50 million of his own money on the table.

Also this shows to the small business owner that we are all in this together. We are all treading water right now, just trying to keep our heads above water. Doesn't matter if your business was doing $100k per year, or a $100K per hour. Even the Churches are hurting from this. the Church I attend is short over $50k per week. Plus I do some IT & AV Consultation and Support. Some of my clients are small Churches and they have told me how much they are really hurting right now.

I have never seen anything like this before. The last supposedly "crisis" that we had was in 2008, but I personally did not feel any effects of that at all. Other than the stock market crashing and peoples retirement funds taking huge losses, that was the extent of the losses that I personally knew about. But this time it's a lot diffrent. Even my kids are feeling this one.. School being cancelled, birthday parties being cancelled, prom being cancelled, weekly gym classes canceled. The kids will also remember this for the rest of there life.. If I ask my oldest child who is in high school about 2008, she would not have a clue about anything that happened. Vs if I ask my youngest child now who's only 4 years old why she can't go to school, she will say "becuase of the Coronavirus germs". I couldn't believe she actually knew the name of it..