CLUCKS-

ALOTPOULTRY
FARM

Thi
nkchi
cken?Thi
nkus.'
'Cust
omeri
stheki
ng'
'

Busi
nessPl
an

APRI
L30,
2021

Cont
actI
nfor
mat
ion

Tel
ephone(077)7777777

Websi
te:Cl
ucks-
alot
.com

Adr
ess:777Ent
repr
eneurAv
enue,

Busi
nessBoul
evar
dIl
oil
oCi
tyPhi
li
ppi
nes
 GROUP3B2-
04STEM12

ACJOYCESAUL

RI
TCHELMARI
ESORI
LLA

MELDANI
GLESI
A

JUSTI
NESUSAL

JOHNLESTERTABACO

JOSHUAVI
LLAESTER

BRI
ANVI
LLACENCI
O

LUI
GIEZALDI
VAR
TABLEOFCONTENTS

I
.EXECUTI
VESUMMARY

i
.OBJECTI
VEOFTHEBUSI
NESS

i
i.MI
SSI
ONSTATEMENT

i
ii
.KEYTOSUCESS

I
I.MARKETI
NGSTRATEGY

i
.PRODUCTSTRATEGY

i
i.
TARGETMARKETANDDEMOGRAPHI
CS

i
ii
.MARKETSTRATEGY

i
v.PRI
CINGSTRATEGY

v
.PROMOTI
ONSTRATEGY

I
II
.FI
NANCI
ALPLAN

i
.INCOMESTATEMENT

i
i.BALANCESHEET

i
ii
.CASHFLOW
I
.EXECUTI
VESUMMARY

Cl
ucks-
alotpoul
tr
yisaf
armf
ocusedonbot
heggandmeatpr
oduct
iont
hatpr
ovi
des
f
oral
argemar
ketr
ange.I
tal
sopr
oducesmanur
easaby
-pr
oduct
.Iti
sbasedi
nIl
oil
o
ci
ty.Thef
ounder
shav
enot
icedt
heheal
thi
mpl
i
cat
ionofr
edmeatandar
ecr
eat
inga
busi
nesst
omeett
hei
ncr
easeddemandf
orwhi
temeatandeggs.Chi
ckenshappent
o
beagr
eatsour
ceofwhi
temeatandar
eal
sol
argel
yknownf
oreggpr
oduct
ion.The
per
sonswhohav
ecomet
oget
hert
ost
artt
hisbusi
nessar
eACJOYCESAUL,
RITCHEL
MARI
ESORI
LLA,
MELDANI
GLESI
A,JUSTI
NESUSAL,
JOHNLESTERTABACO,
JOSHUA
VI
LLAESTER,BRI
AN VI
LLACENCI
OandLUI
GIEZALDI
VAR.Notonl
yar
ethef
ounder
s
i
nter
est
edi
nmeet
ingt
hedemandsoft
hecust
omer
,weal
sopl
ant
ocr
eat
eut
most
sat
isf
act
ionf
ort
hesecust
omer
s.Thef
ounder
sal
sowantt
ouset
hisbusi
nessasa
meansofcr
eat
ingempl
oymentwi
thi
nthecommuni
tyi
tisbasedi
nandt
ocont
ri
but
eto
t
heeconomyoft
hecount
ry.Wepl
anonpr
ovi
depr
oduct
swi
thqual
i
tyandmai
ntai
n
t
hissuppl
yef
fi
cient
ly.Thi
sisapar
tner
shi
pbusi
nesst
hatpl
ansondi
str
ibut
ingeggs
andchi
ckent
orest
aur
ant
s,homedel
i
ver
yfoodcent
ers,hot
els,school
s,cl
ubs,baker
y
and cat
eri
ng busi
nesses and super
mar
ket
s.We al
so pl
an on doi
ng t
his atv
ery
af
for
dabl
e pr
ices.We wi
l
lal
so di
str
ibut
e manur
etof
armer
sthatar
eint
o cr
op
pr
oduct
ion.

Thi
sbusi
nesspl
ani
smeantt
oar
ti
cul
atet
hev
isi
onandf
utur
eofourpoul
tr
y,andt
o
appealt
oinv
est
orsandext
ernalst
akehol
der
stogeti
nvol
vedi
nthi
sbusi
nessandhel
p
wi
thi
tsf
undi
ngasi
tisacapi
tali
ntensi
vebusi
ness.Weal
sohopet
hati
twi
l
lser
veasa
gui
del
i
nef
ort
hef
ir
m’sempl
oyeest
omov
etowar
dst
hegoal
oft
hepoul
tr
y.

i
.OBJECTI
VESOFTHEBUSI
NESS

Cl
ucks-
alotpoul
tr
yfar
m wi
l
lmeasur
eit
ssuccessbyi
tsabi
l
ityt
oachi
evet
hef
oll
owi
ng
obj
ect
ives:

 Becomi
ng t
he "
Bestand mosthy
gieni
c poul
tr
y pr
oduceri
nthe ar
ea"
compl
yi
ngbyt
henat
ional
standar
dsf
orf
oodanddr
ugs.
 Tur
ninpr
ofi
tsf
rom t
hef
ir
stt
hreemont
hsofoper
ati
ons.
 Mai
ntai
n50%gr
ossmar
ginr
ati
o.
 Wi
nni
ngt
hehear
tsandt
ast
esofourbel
ovedconsumer
sandest
abl
i
shi
nga
br
andi
mageoft
hecompanyt
hroughheav
ymar
ket
ingcampai
gnsi
nthef
ir
st
oney
ear
.
i
i.MI
SSI
ONSTATEMENT

Cl
ucks-
alotpoul
tr
y’smi
ssi
oni
stopr
ovi
decust
omer
swi
thqual
i
ty,f
resh,andv
aluabl
e
pr
oduct
s.Tor
espectal
lempl
oyeesandenabl
eev
ery
onet
ohav
easayi
ncompany
af
fai
rs.Qual
i
tyandser
vicear
eournumberonepr
ior
it
y.Topr
ovi
dei
nvest
orswi
th
oppor
tuni
ti
est
orecei
ve a ni
cer
etur
n on i
nvest
mentand hi
gh-
qual
i
tygr
owt
h.To
cont
ri
but
etot
hecommuni
tyt
hroughphy
sicalandsoci
alpr
ogr
ams.Cl
ucks-
alotpoul
tr
y
f
armi
ntendst
ohav
ethel
argestpoul
tr
yfar
m pr
oduct
s. Wepl
ant
oincr
easeand
expandourpr
oduct
ionofchi
ckent
ochal
l
enget
heev
ergr
owi
ngdemandf
orchi
cken
pr
oduct
s.Thenut
ri
ti
ousandpr
otei
nri
chpr
oduct
sfr
om ourf
arm woul
dal
way
sbet
he
f
ir
stchoi
ceofourconsumer
s.

i
ii
.KEYSTOSUCCESS

Cl
ucks-
alotpoul
tr
yfar
m wi
l
lfol
l
ow t
hesepr
inci
plesi
nor
dert
oachi
evesuccessi
nit
s
mar
ket
:

 St
ateofar
tcagef
ramewor
kaccommodat
ingopt
imum numberofchi
ckens
wi
thl
essenedpossi
blehazar
ds.
 Di
ver
sesl
aught
ersnet
wor
k,mar
ketchai
nmanagement
,opt
imum i
nvent
ory
l
evel
and‘
cust
omeri
ski
ng’
pol
i
cy.
 Regul
arv
isi
tsbyv
eter
inar
ymedi
calwor
ker
sandhy
gieni
cpoul
tr
yhouse
env
ironment
.
I
I.MARKETI
NGSTRATEGY

i
.PRODUCTSTRATEGY

Weof
ferchi
ckeneggsandchi
ckenmeatt
hatwi
l
lbegot
tenf
rom l
ayer
sandbr
oil
erst
o
ourt
argetmar
ket
.Wepl
ant
otakepr
idei
ntheuncompr
omi
singqual
i
tyofourpr
oduct
s.
Weal
soof
ferf
ert
il
izeri
naf
orm ofchi
ckenmanur
e.Thi
sismost
lyusedi
nveget
abl
e
gar
densandasani
ngr
edi
entf
orf
eedsi
nfi
shf
armi
ngsect
or.Cl
ucks-
alotpoul
tr
yfar
m
shal
lpr
oducehi
ghqual
i
ty,
cont
ami
nantf
reechi
ckenmeat
sandt
hef
reshesteggsf
rom
chi
ckensr
aisedi
nast
ressf
reeandwel
lmai
ntai
nedenv
ironment
.Tosat
isf
ythet
ast
e
andst
andar
dsofourbel
ovedconsumer
s.

i
i.TARGETMARKETANDDEMOGRAPHI
CS

I
ndi
vi
dual
sar
easmal
lsect
ori
nthemar
ketsegment
ati
on.Theyar
eapr
ett
ylar
gegr
oup
butt
heybuyar
elat
ivel
ysmal
lamountofeggs.

Thepar
toft
hemar
kett
hatwehopet
osuppl
ylar
geamountofeggst
oar
ethe
i
ndust
ri
es t
hatneed eggs.We hav
e st
rat
egi
cal
l
ypl
aced oursi
te cl
ose t
othese
i
ndust
ri
es.Theyar
e baker
ies,r
est
aur
ant
s,boar
ding school
s,home del
i
ver
yfood
cent
ers,
ret
ail
shopsandsuper
mar
ket
s.

Anot
herpar
tofourt
argetmar
kett
hatwi
l
lor
derourpr
oduct
sinmedi
um quant
it
iesar
e
t
hehomest
hatwi
l
lrequi
reourhomedel
i
ver
yaswehav
easetamountofeggst
hey
needt
oor
derf
or.Homesgener
all
yut
il
izeeggsi
nthepr
epar
ati
onofedi
blesl
i
ke
chi
ckenbur
ger
,chi
ckenpi
e,sal
ads,
Scot
chegg,
omel
ets,
eggsoupet
c.

Thepar
tsofourt
argetmar
keti
nter
est
edi
nli
vechi
ckensar
esmal
lscal
epoul
tr
y
f
armer
sandf
est
ivei
ndi
vi
dual
s.Wehav
econsi
der
edt
heneedsofeachsect
ionoft
he
t
arget mar
ket
s and we pl
an on meet
ing t
hese needs ef
fect
ivel
y
i
i
.a.Demogr
ahi
cs

TARGETMARKET MARKETSHARES

Hot
elsandRest
aur
ant
s 35%

Baker
iesandf
oodj
oint
s 25%

Ret
ail
shop 20%

Home 10%

I
ndi
vi
dual
s 8%

Ot
her
s 2%
i
ii
.MARKETI
NGSTRATEGY

Cl
ucks-
alotpoul
tr
ywi
l
lst
ri
vef
ort
hepr
oduct
ionofpr
oduct
swi
tht
hehi
ghestqual
i
ty
andwepl
anonempl
oyi
ngt
hef
oll
owi
ngst
rat
egi
es.Ourl
ocat
ionput
susi
npr
oxi
mit
yof
amaj
orhot
el,r
est
aur
ant
,school
swi
thcampusesandhomedel
i
verf
oodcent
erswe
wi
l
lbesuppl
yi
ngt
o.Wewoul
dal
somakecont
ract
swi
thhawker
sinmar
ket
stosel
lour
l
i
vechi
ckensandeggs.Wewoul
dal
somakecont
ract
swi
thr
etai
lshopsf
orconst
ant
suppl
yofeggsati
nter
val
s.

SWOTANALYSI
S

SWOTst andsf
orstr
engt
h,weakness,
oppor
tuni
ti
esandt
hreat
sandwehav
emadean
anal
ysi
sineachcase.

St
rengt
h

Producehighquali
tyeggsenr i
chedwithprotei
n
Relat
ivel
ygoodinfr
astruct
ur esyst
ems
Goodmar keti
ngsystem
Eggsandchickenarenotseasonal productsandcanbeeatenanyt
imeoft
he
year
I
nt hi
sarea,t
hepoul t
rybusinesshasn’tbeenover
-expl
oit
ed
Poult
ryareenvir
onment al
l
yf ri
endl
y
Weakness

Capit
al i
ntensi
ve.St
arti
ngapoul t
rybusi
nessr
equi
resal
argecapi
tal
fundi
ng.
Outbreakofdiseasecanr ui
nenti
rebusi
nessi
nago
Thesmel lcanbequitedistur
bing
Oppor
tunit
ies

Expansi
onintolar
gescaleproduct
ionofbypr
oduct
s(f
ert
il
izeranddet
ergent
)
Exportt
oneighbori
ngtowns
Alargeandsuccessful
poult
rywill
ensuref
oodsecur
it
y
Thr
eat
s

Mor ecompet i
ti
on
Aviandiseases
Highfeedingredient
sprices
Threatofimportoffrozenchicken
i
v.PRI
CINGSTRATEGY

Thepr
iceoft
hechi
ckenwoul
drangef
rom Php130upt
oPhp180dependi
ngont
hesi
ze
andqual
i
ty.Al
so,
thepr
icef
oracr
ateofeggsr
angesf
rom Php200t
oPhp250.Thepr
ice
ofasackofmanur
ecost
saboutPhp180.Thesepr
iceswoul
dal
sov
arydependi
ngon
t
heexi
sti
ngmar
ketpr
iceofpoul
tr
ymeatandeggs.
Tomeetupwi
thourcust
omer
s
demands.

v
.PROMOTI
ONSTRATEGY

As we compet
e wi
th ot
herpoul
tr
ies,we wi
l
lpr
omot
e ourpr
oduct
sthr
ough
adv
ert
isement
swi
tht
heai
dofst
reamer
sandpamphl
ets.Wecanal
somakeour
busi
ness known t
hrough r
ecommendat
ions and connect
ions wi
th wel
l
-known
busi
nessmeni
nthel
ocal
i
ty.Wewi
l
lal
somakeourpr
oduct
sandser
viceknowni
nthe
newspaper
s.Wehav
ecr
eat
edawebsi
tet
oo(
Clucks-
alot
.com)t
olett
heconsumer
s
knowofourbusi
nessandf
oronl
i
net
ransact
ionsaswel
l
.

Cl
ucks-
alotpoul
tr
yal
sohasawebsi
tewher
ecust
omer
scani
nter
actwi
thusandgeta
f
eelofwhatt
hebusi
nessi
sabout
.Weknowasi
teort
wowher
ewecanpl
aceonl
i
ne
adv
ert
isement
sandwewoul
dal
somakement
ionsofourpoul
tr
yinonl
i
nenewspaper
s.
 I
II
.FI
NANCI
ALPLAN

i
.INCOMESTATEMENTFOR3MONTHS

I
nourbusi
ness,
thef
inanci
ngst
ruct
ureandway
sofdoi
ngi
tisl
i
ket
hepat
hbel
ow.

1)Equi
tycont
ri
but
ion:t
hiscov
ert
hel
andwear
eusi
ngf
ort
hepoul
tr
y,andal
sot
he
f
aci
l
iti
esi
nthebui
l
ding.Thet
otali
ncomewi
l
lbest
orer
ooms,
off
iceandconst
ruct
ions
aswel
last
hef
urni
shi
ngpar
t.

2)Per
sonali
ncomeof10mi
l
li
onpesos,whi
chwi
l
lbeusedt
ost
art
-upt
heoper
ati
ons,
t
hehat
cher
yequi
pmentandot
herequi
pment
’sneededf
ort
hepoul
tr
y.

Si
ncef
orst
artupbusi
nessbor
rowi
ngmoneyf
rom abanki
snotadv
isabl
eforour
f
inanci
ngpr
oject
.Fi
nanci
ngbyl
oanbecomesoursecondar
ymot
ivei
fwecanget
enoughi
ncomef
ort
hest
artupbusi
ness.Whenwebor
rowanduseper
sonali
ncome,
it
i
seasi
ert
oobt
ainandqui
ckert
hanl
oanandt
het
axr
atei
slow.

I
ncomest
atementf
ort
hemont
hsofApr
ilt
oJune

REVENUES Apr
il May June

Chi
ckensal
es PHP4700000 PHP4700000 PHP5000000

Eggssal
es PHP5600000 PHP5600000 PHP6000000

Fer
ti
li
zer
s PHP50000 PHP50000 PHP60000

TOTALI
NCOME PHP10350000 PHP10350000 PHP11060000

EXPENSES

Dayol
dchicken PHP600000 PHP600000 PHP610000
pur
chase

Lay
ingeggschi
cken PHP375000 PHP375000 PHP450000
pur
chase

Feeds PHP2600000 PHP2600000 PHP2700000

I
nsur
ance PHP50000 PHP50000 PHP50000

Labor PHP920000 PHP920000 PHP900000

Busi
nesscar
d PHP2000 PHP2000 PHP2000

Adv
ert
isement
s PHP10000 PHP10000 PHP15000

Ot
herexpenses(water PHP100000 PHP100000 PHP120000
andelectr
ici
ty)
TOTALEXPENSES PHP4657000 PHP4657000 PHP4847000

NetI
ncomeBef
ore PHP5693000 PHP5693000 PHP6213000
Tax

Taxes PHP569300 PHP569300 PHP621300

Depr
eci
ati
on PHP50000 PHP50000 PHP50000

Consul
tant PHP50000 PHP50000 PHP50000

NETI
NCOME PHP5023700 PHP5023700 PHP5491700

I
nthet
hir
dmont
hwepl
annedt
orai
se100addi
ti
onalchi
ckens.Thi
swi
l
lmakeour
i
ncomet
ori
seaswel
last
hecostoff
eedchi
ckenmai
ntai
nance.Thet
otali
ncomewi
l
l
r
isef
rom PHP10350000t
oPHP11060000.
Thedepr
eci
ati
onamountcomesf
rom t
he
equi
pment
sthatar
eexpect
ingt
obesol
daf
teracer
tai
nper
iodoft
ime.

i
i.BALANCESHEET
Thebal
ancesheetshowsheal
thygr
owt
hofnetwor
thandast
rongf
inanci
alposi
ti
on.

Cl
ucks-
alotPoul
tr
yFar
m APRI
L-JUNE2021

ASSETS LI
ABI
LITI
ES

FI
XED LONGTERM

Far
mland(3.
0haf
or PHP1500000 Far
m Real
Est
ate PHP400000
PHP500000)

Bui
l
dingand PHP700000 Bui
lding PHP300000
I
mprovements Depreci
ati
on

Ot
herFaci
l
iti
es PHP200000 Tot
alFi
xed PHP700000

Tot
alf
ixed PHP2400000 I
NTERMEDI
ATE

I
NTERMEDI
ATE Machi
nery PHP50000
Depr
eci
ati
on

Poul
tr
y5000hdsf
or PHP500000 Vehi
cle PHP100000
PHP100 Depr
eciat
ion

Machiner
yand PHP800000 Equi
pment PHP60000
Equi
pment Depr
eci
ati
on

Vehi
cles PHP500000 Tot
alI
nter
medi
ate PHP210000

Tot
alI
nter
medi
ate PHP1800000 CURRENT

CURRENT Account
spay
abl
e PHP300000

Cashsav
ingsaccount PHP1000000 Banknot
es PHP70000
 Cashvalueof PHP200000 Accr
uedt
axes PHP80000
I
nsurance

Account
sreci
evabl
e PHP400000 Tot
alCur
rent PHP4500000

Tot
alcur
rent PHP1600000 TOTAL PHP1360000
LI
ABILI
TIES .

TOTALASSETS PHP5800000

TOTALASSETSANDLI
ABI
LITI
ESPHP7160000

i
ii
.CASHFLOW
Far
m showsposi
ti
vecashf
lowandt
heanal
ysi
sisout
li
nedi
nthef
oll
owi
ngt
abl
e.The
i
nvest
mentofgr
antf
undi
ng al
ong wi
tht
he di
sbur
sement
s ofi
twas pr
imar
il
y
account
edf
ort
hreemont
hst
osi
mpl
i
fycashf
lowassumpt
ions.

APRI
L MAY JUNE

CAPI
TALCOST PHP10000000 0 0

Recur
ri
ngCost

Landandbui
l
ding PHP800000 PHP800000 PHP800000

Costofchi
ckens PHP975000 PHP975000 HP1060000

Costoff
eed PHP2600000 PHP2600000 PHP2700000

I
nsur
ance PHP50000 PHP50000 PHP50000

Labor PHP920000 PHP920000 PHP900000

Busi
nessCar
d PHP2000 PHP2000 PHP2000

Adv
ert
isi
ng PHP10000 PHP10000 PHP15000

Ot
herexpenses PHP100000 PHP100000 PHP120000

Consul
tat
ion PHP50000 PHP50000 PHP50000

TOTAL PHP5507000 PHP5507000 PHP5697000

Sal
es

Chi
ckens PHP4700000 PHP4700000 PHP5000000
Eggs PHP5600000 PHP5600000 PHP6000000

Fer
ti
li
zer
s PHP500000 PH500000 PHP600000

TOTAL PH10350000 PHP10350000 PHP11060000

Depr
eci
atedVal
ue

Machi
ner
y and ot
her PHP266666 PHP266666 PHP266666
Equi
pment
s

Vehi
cles PHP166666 PHP166666 PHP166666

Cages PHP25000 PHP25000 PHP25000

Tax PHP569300 PHP569300 PHP569300

Tot
al PHP1027632 PHP1027632 PHP1027632

Endi
ngcashbal
ance PHP5870632 PHP5870632 PHP6390632

RI
SKASSESSMENT

Fi
nanci
alr
isks

 Changesi
nourpr
ici
ngpol
i
ciesort
hatofourcompet
it
ors
 Fl
uct
uat
ioni
nrev
enuef
rom di
str
ibut
orsandr
etai
l
ers
 Ti
mingofcost
srel
atedt
oacqui
sit
ionsorpay
ment
s
Heal
thr
isks

Cont
agi
ousdi
seaseandv
irusout
breaki
sver
ydeadl
y;i
foneoft
hechi
ckensshoul
d
cat
cht
hedi
sease,al
loft
hem wi
l
lbeaf
fect
edandi
fit
'snotr
ecogni
zedandt
reat
ed
ear
lyi
twi
l
lleadt
othedeat
hofal
lthechi
ckenswhi
chi
sagr
eatl
ossf
ort
hebusi
ness.
Andal
sosomeoft
hedi
seasesar
eal
socont
agi
oust
ohumannotj
ustbet
weent
he
chi
ckenswhi
chwi
l
laf
fectt
hewor
ker
sandal
sot
hoset
hateati
t.

Di
seasepr
eval
encev
ari
esf
rom onear
eat
otheot
her
.Thepr
obl
emst
hatmayt
ri
gger
di
seasecondi
ti
onsar
edi
rectsunl
i
ghtoneggt
ray
sornest
s,poorv
ent
il
atedhousesand
v
eryhi
ght
emper
atur
esi
nandout
sidet
hepoul
tr
yhouse,
whi
chmayweakeneggshel
l
s
r
esul
ti
ngi
npooreggqual
i
ty.Al
lthesecondi
ti
onswi
l
lbeav
oidedt
othebestofour
abi
l
iti
es.

Anot
hert
hing we consi
der
ed dur
ing t
he r
iskassessmenti
sthe mor
tal
i
tyoft
he
chi
ckenswhi
chi
sinev
itabl
esi
ncewear
edeal
i
ngwi
thl
i
vingt
hings.Thi
scanbe
managedwi
thgoodmanagementandhasbeencal
cul
atedt
orangebet
ween5-
10%.
Technol
ogi
calr
isks

Technol
ogyi
s good butt
heyal
so hav
ethei
rdi
sadv
ant
ages.Ther
e ar
e nor
mal
l
y
pr
obl
emsi
nvol
vedi
nusi
ngt
echnol
ogy
;theuseoft
hemachi
net
hatcol
l
ect
seggsmay
f
ailt
owor
korspoi
l
,maki
ngt
hewor
ksl
ow andaddi
ngmor
ecostt
othebusi
nessby
r
epai
ri
ngi
t.Thecostf
orel
ect
ri
cit
yisal
sonoteasyandsomeel
ect
ri
cpr
obl
emscan
l
eadt
ofi
reout
rageandbur
nthebui
l
dingcausi
ngt
hel
ossofasset
sandper
hapst
he
ent
ir
ebusi
ness.

Cont
ingencypl
ans

Asweconsi
der
edt
heser
iskswehav
eal
somadecont
ingencypl
ansf
orunpr
edi
cted
ev
ent
soroccur
rences.Aspert
heheal
thr
isks,wewi
l
lhav
epl
answi
thav
eter
inar
y
doct
ort
hatwi
l
lhav
eregul
archeckupswi
tht
hechi
ckenswhi
l
egi
vi
ngt
hem t
hebest
env
ironment
alcondi
ti
ons.Anot
hercont
ingencypl
anwewi
l
lmakei
sinsur
ancet
hatwi
l
l
pr
otectourasset
s.Oneoft
her
iskswehav
etof
acef
orexampl
eist
heoccur
renceofa
f
ir
eout
rage,
wil
lbesol
vedbypl
aci
ngf
ir
eext
ingui
sher
satst
rat
egi
cpl
aces.Andi
ncase
off
inanci
alcr
ises,
wemayhav
etor
esor
ttoget
ti
ngbankl
oans.