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Banks Still Not Doing Their Job! Gima In Trouble

11
February
2010
  Posted at 08:00:00 AM
  File under  France News
  Author: Mike Werner
  Location: Normandy, France
click to see France on a map

Remember the cute retro motorcycle we showed you some weeks ago (see the related articles below). France based GIMA Open link in a new window makes a beautiful 125 cc motorcycle, modelled after its own motorcycle from many years ago.

GIMA 125

They have a reasonable success in marketing the vintage-looking motorcycle in France, and have already received over 150 orders for the 125 cc motorcycle. However, receiving orders is one thing, but offering a complete after sales service is another. You need dealers to repair and maintain the motorcycle, spare parts, training, etc.... the works.

To accomplish this, Gima needs money. They've applied to banks for a €400,000 loan to put their distribution network in place, but got turned down! Banks just aren't interested in providing money at this moment. They want to keep the money for themselves so they can distribute bonuses to themselves.

Since the motorcycle manufacturer is small, the national French media aren't interested in picking up the story, and neither are the politicians.

So Hilario Gonzalvez, the CEO of the company, has gone on a hunger strike. The only thing being proposed by (local) politicians is that they relocate the factory to Tunisia, which is exactly what the CEO does not want. He wants to make a French product, in France, with French workers. Kudos to him!

It's pathetic if you realize that they have firm orders for their bikes, and lots of promise for a decent company in the future. French politicians should start looking at helping small companies survive instead of hammering down on bikers.

Maybe he should sell part of the company to Bajaj Open link in a new window.... they are in the market..







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