Chouinard rejected 18% loans from mafia figures during Patagonia's 1980s crisis
Yvon Chouinard · Patagonia: Yvon Chouinard · Dec 12, 2016 · at 8:46
Patagonia founder Yvon Chouinard describes how the company survived a severe liquidity crisis after commercial banks cut off lending.
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“In fact, my accountant introduced me to some mafia guys who wanted to loan me some money at 18% interest, which I turned down, but what saved us is, is we got some personal loans from some friends and pretty much Fired some management that got us into this problem and turned things around.”
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