Quote:
Originally posted by boobmaster
I misread. First Data expects to do 10 billion. Ibill processes 300 million. Thus, 14 million would work out to around three weeks.
Why can't they get a loan from their new bank for the 14 million and pay it back when their $$ is released by FDB?
BTW, how long is FDB going to hold ibill's money?
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Maybe IBILL is trying to get a loan but I would say it would take more than a month to get a bank to just give a company a loan that can't get paid from another company.
Depending on the contract First Data might be able to hold their money for 6-12 months.
Some of you are pissed at IBILL but this can happen to any company in this industry. At least they started to pay clients today. How many other companies would just bail with the money?