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- Jun 14, 2010
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An additional loan in August of 2008 of $312K was made to USSA.I'm in agreement as well that the bank has a right to protect itself. It just turns my stomache a little that they moved as quickly as they did. Hopefully, Okie common sense and cooler heads will prevail.
They may not be profitable or barely making their expenses.
If that is the case, then that may be the reason the bank moved as fast as they did.
Banks want their money back and won't hesitate to take over a business to insure they do get it back.