Here’s the review of the show from the Financial Times.

Being primarily centred on vulgar ostentation and machismo doesn’t put A Man In Full high on the Risecap watch list. But with it showcasing a toxic lender-borrower relationship, we’re here to run a reality check on the financial plot points, for the benefit of any business owners who may be concerned about what is portrayed.

Can lenders request I pay back the money owed to them at any time?

At the start of the show, an American business tycoon is blindsided when a bank his company borrowed $800 million from demands almost immediate repayment in full.

The truth is that lenders are as tied into the terms and conditions of your loan as you are.

So, if it’s in your T&Cs that your fixed-term loan has five-years for you to pay it back, they can’t ask you to repay before those five years are up.

But some lenders, for some products, do include a list of situations when they can recall the loan.

We’ve seen this happen with e-commerce businesses that have gone from boom to bust and their lenders believed the loan to no longer be affordable.

But what usually happens in these situations is either the lender will reduce the amount of finance available or they will give the business a window to refinance the loan.

Interestingly, some products are set up so you can’t pay them off before the agreed term, or charge a penalty if you do. So, if you want to have the option of early repayments, make sure you negotiate this at the outset.

Verdict: Check the T&Cs!

Do lenders want to trick and persuade me to borrow money?

In the show, the troubled billionaire accuses his bank liaison of pushing him into taking out loans.

Banks can make it tempting for you to take out loans by offering very favourable terms like super low interest rates. Lenders may help you with the tough paperwork. Some brokers may give you the hard sell. But the decision to go ahead is always yours.

Feeling pressured is usually a bad sign and an indicator that you may want to seek an alternative opinion on your financing options.

Verdict: FICTION

Could I lose my prized possessions one by one?

In episode three, the bank claims a personal jet was bought using borrowed money and so repossess it in front of the protagonist’s family and business colleagues.

If the jet had been bought using asset finance and the terms of that lending had been breached, then yes, the bank could take the jet to recover the debt. This is because asset finance can be secured against assets the specific items the business wants to use the loan to buy.

But if the jet had been bought using a loan, then upon default the bank could claim back whatever the loan had been secured against. This could be another asset such as a house or a personal guarantee.

If a personal guarantee was in place for the debt, you would become responsible for it if the business cannot repay it. Then your belongings and savings may have to be used to settle the debt.

When taking out financing with a personal guarantee, you could ask about what insurance is available to help protect you and your possessions.

Verdict: Check the T&Cs!

Are meetings with banks full of egos and insults?

Absolutely not. If you’re in any meeting as rude and disgusting as those portrayed in the show, document what is said and immediately complain to the lender.

Its normal to feel nervous and intimidated by meetings with lenders. When working with a broker like Risecap, we can attend set up meetings with you or on your behalf, presenting your business case in terms lenders understand.

Verdict: FICTION

We hope this has provided some reassurance on what business financing looks like in real life. If you have any questions, get in touch!

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