"A total of … three million two hundred and forty thousand!"
In Joe Griman's office, he looked at the statistics in his hand in awe. He couldn't help but exclaim in awe.
When Lynch told him that there were several million worth of collateral, Joe Griman thought it was probably an exaggeration. This kind of situation was very common in the financial field.
All kinds of cash in installments, cash in at a discount, and cash in at a discount made people not have much confidence in the numbers given by others. He didn't expect Lynch to give him a pleasant surprise.
He put down the statistics and adjusted his sitting position slightly. "It's a very shocking number, but you should know that I can't loan you according to the estimated value. At most, I can only give you 50%, no more!"
He touched the statistics again with his hand, and a look of regret appeared on his face. "These are not high-quality resources, and the bank is still very risky, so …" He shrugged and looked at Lynch again.
The bank had its own professional appraisers, and when they counted these things, they found that there were no valuable items that could be sold immediately, such as precious metals, gold, or jewelry that could be easily converted into cash.
Instead, there were some … things that could not be sold easily, such as some daily necessities, some appliances, and most of them were houses and cars.
Saibin City was not a big city, nor was it the capital of a state, nor was it the center of the Federation. The rate of the houses here was not very safe, and most of the houses mortgaged in these agreements were in ordinary communities. There were no middle-class or uptown houses.
In small cities, the most valuable houses were basically those in middle-class and upper-class communities. They sat in the best locations, had the most beautiful scenery, and had the most complete set of supporting services.
Such houses could be sold easily, as long as they were lower than the market price, 10% to 15%, and they could be sold immediately.
However, the houses in ordinary communities were not like that. Real estate development in ordinary and slum areas, especially residential development, was a thankless task. The slow sales cycle could easily drag down real estate developers.
In addition, some people liked to mess around. The poor liked to break into houses that were not sold, and often caused some trouble.
In some states of the Federation, local laws had stipulated that after living in someone else's house for a certain number of years, one would naturally be able to obtain the property rights of the house. This made many people even more eager to find houses that had not been sold or empty houses that had been moved away.
The chaotic environment of the civilian district and the slums, as well as the creepy street culture, were all factors that restricted the rise of these housing prices. This did not mean that they were worthless, but that it was difficult to realize their actual value.
It was the same for cars. There were no luxury car brands. Most of them were ordinary car brands, and some of them were old. Some of the valuers thought that they might be stolen cars that had been abandoned.
The path to realization of these things was full of twists and turns. It was hard to say if they would be able to break even if they failed.
If Lynch really wanted to exchange these things for a sum of money, Jorliman would be more cautious and even refuse to do business with Lynch. He would rather not have this deal than take the risk.
However, he already understood Lynch's idea. The money he gave to Lynch, Lynch would give it to Gaitnau Finance to achieve continuous turnover.
At that time, more similar agreements would be mortgaged to the bank, and the final amount would be an amazing number. Therefore, he did not mind this kind of business.
Jorliman thought for a moment. "I can give you 1.6 million at most!"
He felt that this price was quite safe, and Lynch did not have any reason to object. 1.6 million, he could get a service fee of 160,000, and almost double the expected profit.
This deal alone brought Lynch at least 250,000 in income, which was much faster than changing change. At the same time, he did not need to pay a penny of interest to the bank.
This part of the interest was paid by Gaitnau Finance. They entrusted Dyson Asset Management to manage these assets and paid a "management fee."
In other words, Dyson Asset Management completely cut off the relationship between Gaitnau Finance and Jinhui Bank, which was the basis of the cooperation between the two parties.
Lynch didn't fight for more shares. Instead, he agreed, which made Joe Griman even more fond of him. He smiled a lot more. "Do you want a check, a cashier's check, a draft, or an account transfer?"
So far, the checks of the six major banks in the Federation were limited. They could not write cash checks in the millions. They could not even write transfer checks. Checks were too easy to fake. Plus, there were some technical reasons, which made it difficult to achieve.
Jolliman was actually referring to small cash checks, but it was clear that Lynch had a different opinion.
"I want cash!"
As soon as he said that, Joe Griman was stunned. It was not that the bank could not take out the cash, but that a large amount of cash needed a series of procedures, which was a little troublesome. He might have to ask two people from the police station to cooperate.
Looking at Jorliman's expression, Lynch frowned slightly, then relaxed. He looked as if he did not care and asked, "Can't I?"
Jorliman thought for a moment, then finally nodded. "It's not impossible, but it's very troublesome. There are many procedures. I have to do the documents first, then send them to the branch and the headquarters. There are also some other judicial procedures, which will take at least four to five days."
"I can wait!"
In the face of these difficulties, Lynch did not flinch at all. The two looked at each other for two or three seconds. Jorliman nodded, indicating that he would complete the deal as soon as possible.
Lynch stood up at the right time. "Then …"
Jorliman also stood up, reached across the desk, and stretched out his hand. "Happy cooperation!"
After sending Lynch away, Jorliman shook his head with a smile. He knew why Lynch wanted cash, and his attitude was so tough.
A certificate of more than a million in cash was enough for Lynch to mix in more cash. To put it simply, the bank issued a certificate to prove that Lynch had taken 1.6 million in cash from the bank. Then, in the following work, as long as he did not take out more than 1.6 million in cash at one time, it could be said that it was legal, as long as he was smart enough.
In other words, Lynch could mix in more money, one million, two million, or even more into this certificate and completely clean it. What a smart man!
After signing this deal and a series of follow-up cooperation in the future, Jorriman was in a very high mood. In the evening, three of his men invited him out to celebrate. They would probably get a lot of commission in this deal, so they had a reason to indulge.
This was the daily life of working with money. Make money, make a lot of money, and then completely indulge in the cycle.
Jorliman declined their invitation. As the manager of the credit department, it was not appropriate for him to appear with them at this time. He needed to avoid them.
When he drove home, he parked the car. When he passed by the yard, he subconsciously looked at the mailbox. People like him received letters from all over the country every day. Some were colleagues, some were self-recommendation letters from major foundations, and some were orders or free financial services from various financial institutions.
After dinner, he stayed with his wife and children for a while. After watching TV for a while, he returned to the study alone and began to deal with these letters.
To his surprise, the first letter had no postmark. There was nothing on the envelope, no sender, no recipient, not even a word.
He cut the letter with a letter knife in confusion. The room at night was never as bright as during the day. His enlarged pupils quickly contracted when he saw what was in the envelope.
A check, a check for 30,000 yuan, and the check exuded the fragrance of ink!
Although there was nothing on the envelope, he knew where the check came from.