A Zambian walked into a bank in New York City and requested for the loan officer. He said he is going to Zambia for a one month holiday and needed to borrow $1,000. The bank loan officer said the bank will need some sort of security or collateral for the loan, so the man hands over the keys of his new Mercedes Benz SL 500. The car was parked on the street in front of the bank. The bank agreed to accept the car as a collateral for the loan. The banks Manager, loan officer and its staffs all laughed at the Zambian, for using a $110,000 Benz as a collateral for a $1,000 loan. Saying he was so ignorant. An employee of the bank drove the Benz into the banks underground garage and parked it there. One month later, the Zambian returned from Zambia He repaid the $1,000 and the interest, which was $100. The loan officer curious said;~~ Sir, we are very happy to do business with you. This transaction worked out nicely, but we are surprised. While you were away, we did a background check on you and found out that you are a multi-millionai re. What surprises us is why would you bother to borrow $1,000. The Zambian calmly replied;~~ Where else in New York City can I park my Mercedes Benz for one month for only $100, and expect it to be there when i return?
Posted on: Mon, 04 Aug 2014 11:03:42 +0000
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