Now I don't mind lending a mate money if he's in a jam but I do expect him to pay it back once he's out of that jam. I've even been known to 'lend' a mate money knowing that there was no way on God's earth that he'd be able to repay. The guy was in a real bind and I was happy to help. I also know that if he ever got things together he'd either pay me back as a matter of course or pass on the loan to someone else in need.
My attitude towards Mike right now was something else. He'd been in a bind. His firm was financially strapped, the bank wouldn't lend him any more money, and he had a payroll to meet. Now I knew that his firm was just having a cash flow problem and that if he could stay open just a little longer some overdue payments would come in and he'd be right. His long term prospects were good.
Why, you ask, won't the bank lend him any more cash if his long term prospects were so good? The reason was those long term prospects. If they could foreclose on him they had an eager buyer waiting to take over the company. I suspected that a back-hander might have taken place but it's not something easily proved. So I lent Mike enough to see him through.
He got his overdue payments and he also landed a couple of fat contracts that he'd had in the wings. The firm's temporary crisis was past and he was looking good. I had quietly made myself aware of his current financial status and he was well able to pay back the loan without adversely impacting the firm. Trouble is, he didn't. He gave me promises and excuses but not my cash.
I bided my time and one evening I dropped in to see him. He was all smiles and how are you, right up until I broached the loan repayment.
"No problems, George," he assured me. "As soon as Sanderson's settle I'll be around with the cash. I can't tell you what a lifesaver that loan was."
"Glad to have been of help," I told him. "I'm glad you mentioned Sanderson. He settled with you this morning. Paid in full I believe."
"Oh. Ah, that's right, now that you mention it. I'll be around to draw the money just as soon as their cheque clears. I'll deliver it to you personally."
"No need to wait for the cheque to clear. My understanding is that Sanderson included ten thousand in cash which you did not deposit in the bank. It's either in your safe at work or in your house safe. That's more than enough to cover what you owe me."
Mike wasn't nearly so happy now. He was giving me a shifty look.
"Ah, yeah, that money. Unfortunately that's ear-marked for a bill I have to pay off first thing in the morning."
"Not any more. I dropped in at Trevor's place and told them that you were very sorry but your settlement on your new BMW will have to wait until the Sanderson's cheque cleared. They were very understanding. They know that these things happen. They'll hold the car for another week."
Damn right they would. They didn't sell a new BMW every day. They had a substantial deposit on the thing. No way they'd give it back just because he was a little late with the balance.
"Ah, well that money is out at the factory. How about I get it Monday morning and deliver it to you. It's not as though I was going to stiff you."
"I know you're not going to stiff me," I told him with a slight smile. From the look on his face he didn't like my smile. "How about you drive around to the factory right now and bring the money back with you. I'll wait. I wouldn't be able to see you on Monday because I'd be in court filing for a bankruptcy petition."
"You're that hard up?" he asked, sounding hopeful. If he could stall until I filed for bankruptcy he might get out of paying me at all. After all, I had no documentation proving he owed me the money.
"Oh, not me," I said. "I'd be filing against someone else."
Geez, the man was slow. I could see him wondering who else owed me money and might be in a bind and wondering how he could take advantage. Muriel, his wife, had been sitting quietly on the couch, listening to our conversation with much amusement. She spoke up.
"He means against you, dipshit," she told him. "Stop being such a tight-arse and go and get the man his money. You were praising him to the skies when he saved your bacon. Now's the time to pay him back."
"It'll take me at least half an hour to get there and back. Can't it wait until tomorrow?"
"No. I don't mind waiting. Muriel can make me a cup of coffee while I wait."
Mike departed, unhappy but resigned to the fact that he had to repay the loan. He was just lucky I wasn't charging him interest.
"He's a real tightwad when it comes to repaying loans," Muriel observed. "It's just his way."
"He's also a miser when it comes to paying accounts," I observed. "He's been pushing the limits with some of these boys. If he doesn't start sorting out his accounts payable then he just might find that he's going to run into problems getting credit. I know of a couple of parts suppliers who are starting to get wary of doing business with him. If I were you I'd lean on him to get a better accountant. His current one is too much under his thumb."
"I'll take that on board," Muriel assured me. She would, too. She might be young but she was smart and had her head screwed on properly. So much smarter than Mike that I figured it wouldn't be long before she controlled the firm with Mike as the figurehead. Good luck to her. The firm would benefit.
She looked at and smiled.
"I suppose I should offer you some coffee while you wait," she observed.