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Banks turn to Credit Cash.
Several banks with loans to retailers have approached Credit Cash to assist them with some of their workouts. In two separate $1 million plus transactions, Credit Cash worked with banks in providing additional working capital to their customers. In both situations, the banks received a small portion of Credit Cash's loan proceeds reducing their exposure; the clients received working capital to purchase additional inventory; and inter-creditor agreements were agreed to by all. The banks are able to stay in the credit; the retailer has better chances of making it through the difficult times; and Credit Cash has new clients.
