Page 26 - My Memoirs - Max Kurz
P. 26

1965-1967 The launch of a New Venture
As stated previously we were newfound parents, discovering a new world, we had it all, mortgage, children, work and whatever else we could manage. My workload and success at J. A. Trollope were increasing. No thanks to management, I learnt to be self-sufficient, built a reputation with the local builders, as well as buyers and sellers and made sales.
By 1967 I was fully licensed, inspired, feeling confidant and ready to launch my own real estate agency, the seed was sown, the question was how and where. I did not have sufficient money to cover the cost of leasing premises, fit out for an office, marketing and the cash flow to sustain me for the time it would take to generate sales and income, therefore I needed to borrow some working capital to launch my new venture. I had a friend who was an accountant, and taught me how to prepare cashflow projections, which I subsequently did and used to present my case for a loan. I visited several lending institutions i.e. banks with no success. I was becoming despondent and concerned about the prospects of my venture.
I walked into the Bank of New South Wales on Coogee Bay Road (as it was known at that time) and asked to see the bank manager. After waiting a long time, I was ushered into the manager’s office. An elderly man sat behind a large desk and introduced himself as Arch McGregor; I noted his formal dress, bow tie, groomed hair parted down the middle, serious manner, all very disconcerting and intimidating. I proceeded to tell my story and he, unlike other bank managers who I had seen, at least allowed me the time to present my case and demonstrate how I was going to service the loan. There was a moment of deafening silence before he responded with a courteous smile and said he would give the matter some consideration and get back to me in due course.
I left there exhausted and not knowing what that all meant. Was it a refusal, what was it? The next week was an anxious period until the bank rang and organised for me to meet with Mr. McGregor, the moment of truth would soon be known. I arrived at the bank in a very nervous state and was shown into Mr. McGregor’s office, sat down, and waited. He looked at me for what seemed an endless length of time. He finally spoke and proceeded to tell me that I have been given approval for the loan on the following terms and conditions. My sense of relief must have
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