• Money’s in the Bank, and Then Some: Everything is Going to be OK (for now)

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    A few days ago Her posted about my company not being able to cover payroll.

    Since then I have been paid.

    I also received a bonus.

    Wait, what? Here’s what I think happened over the last week.

    Our clients have a terrible track record for paying their bills (us) on time. In order to cover that shortfall, small businesses such as the one that I work for used to be able to open up a small business line of credit/loan from a bank.

    Well, as we all know, banks aren’t really being so cooperative when it comes to lending money these days. As our clients fall further and further behind in their payments, our company has probably had to reach deeply into their own pockets to cover our paychecks. After their reserve was drained, they didn’t have any option other than to ask us to be patient.

    In comparison to our company in both size and revenue, our clients are GIANTS (hey that rhymes!). I have to wonder if they think that since we’re just a piddly little vendor that they can just NOT pay their bills on time, and everything will be okay. We play a pretty crucial role (in my opinion) in our client’s business and make them plenty of money, so I would think it would be in their best interest to keep us happy.

    All was made good this week as our clients FINALLY paid us. We were notified when the money would be deposited in our accounts. But the bigger surprise was getting a bonus this year – the total amount of it was equally unexpected.

    So Christmas wasn’t cancelled, we’re happy, and Tiny Tim still gets a goose for dinner.

    That doesn’t mean we’ve gone and blown our cash on hookers and blow. We’re extra skeptical about what the near future will bring us. It seems that my job is pretty safe for now, but polishing the resume is never a bad idea. And to answer a comment from the earlier post, I’ve already been reimbursed for the classes that I’ve taken. We’re going to continue to make sure that we will be able to come out of this time of uncertainty in good standing.

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