And the next time Phantom needs a loan the answer will either be NO or at rates they couldn't afford.
Sir, you are correct, and it doesn't mean the bank is "MEAN" or "DOESN'T CARE", it's about business. I have worked with non-profits for years, and have negotiated lines of credit and loans before.
In some cases, these groups have had to collateralize their hard assets or have board members pledge personal liability for the loans. That is the exception rather than the rule, but it gets ugly if you have a shaky loan payment history.
This CAN'T HELP them go to another bank in Rockford, they may have to go higher interest with a bank outside the area...........
Maybe they need Scott Stewart as an advisor. When he left the Scouts, they had $500,000 in surplus AND was paying for a Div I corps every year...........