Here we go again. Anyone who has tried to apply for a bank loan...

Here we go again. Anyone who has tried to apply for a bank loan whether it is a home loan investment loan or business loan knows that the banks are more than happy to lend you money when you don't need it. Yet when you do need it unless your profitable or can prove that you can pay the loan easily then they don't want to deal with you.

1. In early 2019 EN1 had no money and were making losses for the preceding few years so they had to go to a lender of last resort for the CN notes.

2. Once they started making sales they were still making losses but they were able to get a far better arrangement than the CN notes which is what they have now.

3. Once they can prove they are able to be profitable and have a cleaner balance sheet like the last few months .. chances are they will be able to qualify for lending at much cheaper rates.