Good afternoon. Yes, this is a very typical arrangement for a start-up company...to obtain a loan to help you with cash flow issues caused by the delay between the billing over services and the collection of the revenues paying for the services. There is absolutely no issue with this and banks are very accustomed to such arrangements.
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.