DEBTOR/CREDITOR RELATIONS, AGENCY, AND EMPLOYMENT
1. In the area Stacy lives, there are several “U-Pick” organic blueberry farms where customers are allowed to pick their own blueberries and pay for them by weight. Stacy is thinking of supplementing her supply by hiring employees to pick blueberries from such farms.
She is also considering resourcing blueberries from another local farmer, even though these blueberries probably will be a little more expensive than the “U-Pick” blueberries and not quite as fresh.
From an employment law perspective, which approach would be preferable?
2. Stacy also wants to get a small loan to purchase a large batch of blueberries from Woody (for potential freezing) and to hire one or two more employees for the bakery.
Unfortunately, loan officers from several banks say there is no way a bank will lend to a start-up, mail-order, gluten-free, organic blueberry muffin business, at least not right now.
Stacy’s detailed financial statements show that her company has excellent financial prospects, but still no bank will lend to her.
You would consider lending to her, but you don’t have the money to spare right now. What could Stacy do to persuade a bank to lend the money?