The increased reliance on short-term financing to cover the Government's budget deficit had been expected.
The company is scrambling to arrange new short-term financing so that it can meet its payroll and other daily costs.
Factors provide short-term financing to department stores and their suppliers.
As a practical matter most such borrowers had to rely on short-term financing from banks.
The firm agreed to cover the company's immediate obligations if the major lenders would provide an additional $30 million in short-term financing.
Oxford also disclosed that it had taken on additional short-term financing and was starting to put its new management team in place.
General Development cited an inability to secure additional short-term financing.
He also provided investment banking services to small companies, arranging both short-term and long-term financing.
The notes were part of a $4.1 billion short-term financing by the state.
That is what we have been doing, even at this time, when there are difficulties with regard to short-term financing.