Would You Provide a $1000 Loan To a Million Dollar Company.

Even though the company had 365 days to work this out, but they got into a bind I guess. They tried to get gift cards for their employees on their company card, couldnt do it. Boss comes to me and says "can you front a $1,000 and go get the gift cards; We will pay you back" Seriously? Boss probably makes 5x more then I do, such nerve for boss that makes much more then I do, and a million dollar company to ask their employee for a short term, no-interest, no incentive loan so they can get employee gift cards, but hey, im a team player, right?

How Embarrassing...

 

Wow, that is a bit strange and also a bit concerning. If a million dollar company is running so tight that $1,000 causes cash flow issues, I would be worrying a bit about upcoming paychecks. But, I might be oversensitive to this issue.

Many years ago, I had the unfortunate circumstance to be with a company that regularly missed payroll checks. Sometimes, I would get a call from the president telling me that I had to close a particular deal (that included a cash downpayment) and everyone would be waiting for their check until I closed it. This happened more than once. As payday approached and the deal need closing, I would be getting calls from all over the company (only about 30 people, so not too bad) asking how the deal was going, etc. Talk about pressure...

 

So let me ask the million dollar question. Why did the company card not work? Answer that, and you will have your answer.

 

Of course if there was collateral and they paid a stiff interest rate, something like what pawn shops and title loan places charge lol

 

Wow, I couldnt imagine that. Did you ever have people counting on you to make a deal and it fall through for some reason? That would be my luck if I was put in a situation like that.

I used to have just freakishly bad luck when it came to just about anything including payroll. Someone was always losing my paperwork or something or another that made them not able to pay me. Then when I started working online I would always run into either shady people not paying or people who would churn staff to avoid payment. I used to raise holy hell when someone did me this way, Would go in and rm servers and everything but that caused more problems and most of the time they still didnt pay

 

I dunno, lets see next year when the boss asks me to do it again....
"we will give you a check the very next day...."
The next day....
"Sorry, your check will be ready by friday..."

and such nerve suggesting that a higher up (boss)
should do any such thing, some people....

Has nothing to do with cash flow at all; I imagine they do not have any type of petty cash system in place, and I imagine one just does not roll up to the bank making a withdrawal from a company account to take petty cash, and this is not the first time, i have worked for a few other companies in the past where I was asked to do this, and be paid back later; however, this does strongly suggest they have little organizational skills as payroll could have had this done months earlier; It does boggle the mind how million dollar company survives...

I have been with companies like this while climbing up the corporate latter. One time I was given my payroll check, and was told not to cash it for 5 days, as more important people had to be paid first; I guess they were not really aware that I was already moving on; confirmed the money was there, cashed the check....
opps...

 

This sounds a little funny. $1000 is definitely not an unmanageable amount for a “million dollar” company. And if your boss makes 5 times as much as you, can't he simply put that amount from his own pockets? I can't really figure out the problem with your company or boss. Are these guys falling short of hard cash or some payments/checks bounced all of a sudden?
Another view I've is your company might not be considering expenses like buying gift cards for their employees very necessary. The funds must be there but probably they don't wanna stake them right now for 'accessorial' expenses.
Just curious …. were you the only one the boss asked? I mean have you heard/overheard him approaching others? If not, the boss must really be trusting you above everyone else. (Good for you, hehe.)

Aren't you being a bit assumptive here? That sounds like you're cocksure your boss is gonna do the same thing next year!

 

my first thought is, why should a big boss do something that he would
feel that would be beneath him? And why would he use his own money?
To some extent, all companies have pawns to some degree....

My boss does not have to come to me and explain to me who he has
or has not asked, and no, I did not hear of anyone else talking....

At some point in the corp world, someone has to trust someone....
I have employees under me, I have a corp credit card, etc....
(in fact if I want to go out for coffee, and not tell anyone, then
I can do so without telling anyone, also a perk for being a boss.

the point is, I am paid to do my job, and i certainly do not
feel that loaning money to any company should be part of it....
No one should ever be put in that situation, or used as a pawn
because the company failed to come up with a solution on short notice.

Like I said, its not cash flow problem, its just bad planning....

and it has very little to do with them trusting me...They are borrowing
my money; I am not borrowing their money; I am trusting them
to pay me back in good faith, simple as that...

​

 

There was time or two when the deal fell through and we did not get paid. No one said anything or complained, but the silence was just as bad as if they were screaming at me in disgust. Mostly, the company was made up of young single folks (who have bills, too, of course) but it was the staff with families/kids that I really worried about. Really sucked and I would scramble (literally flying around the country on my own credit card because the company's was shut off) trying to get the next deal.

The funny part, despite the financial problems, I really enjoyed being involved with that company and the president and I remain very close friends to this day. The company ultimately failed, but we had a lot of fun in between crises.

 

This is good to hear regarding the actual cash flow situation.

However, I would like to make the case that it is, in fact, evidence that you are a trusted supervisor based on them asking you to do this. For example, they would not ask someone who they fear would publicize this situation around the company or embarrass them in some other way with this information. I don't want to overplay this, but I would prefer to be in your situation, politically, versus one of your peers whom they did not ask.

 

very touching story sounds like a pretty awesome job just a shame the company folded and didn't work out like you wanted.

 

yes for a value of share