An old Native American man has a need to borrow $500, so he goes to his local bank and asks to speak with the Loans Officer.
The banker welcomes him and then says a loan application form must be completed. So he takes a loan application form from his desk drawer and begins to question the old man.
“So, what are you going to do with the money?” he asks the man.
“Buy silver, make jewellery, then sell it,” the man responded.
“And what have you got for collateral?” asked the banker.
“Don’t know collateral,” replied the old man
“Well that’s something of value that you provide us with to cover the cost of the loan if you fail to repay,” said the banker. “For instance, have you got any vehicles?“
“Yes. 1979 Chevy pickup,” replied the old man
The banker shook his head, “No that won’t do, I’m afraid. How about livestock?“
“Yes, I have a horse,” replied the old man.
“How old is it?” the banker enquired.
“Don’t know, has no teeth,” replies the old man.
The conversation went on like this for a while but eventually, the banker decided to grant the $500 loan to the old man.
Several weeks later the old man returns to the bank.
He pulls out a large roll of $100 bills from his pocket, “Here to pay,” he says.
He then hands the banker $500 in $100 bills to repay his loan.
“Business has been good I can see,” says the banker. “What are you going to do with the rest of that money?“
“Keep it close to me,” the old man responded.
“Why don’t you just deposit it in my bank,” the banker enquired.
“Don’t know deposit,” replied the old man
“Well, you just put the money in our bank and we take care of it for you. Whenever you want to use it, you can withdraw it,” the banker responded.
The old Native American man leans across the desk, looks the banker in the eye and asks, “What you got for collateral?“
