As the board treasurer of the Southwestern Association for Indian Arts, I believe it is important to clarify some of the recent misstatements about SWAIA’s financial condition made by people who are unaware of the facts. There are many things to keep in mind.
First, while SWAIA’s income is cyclical, SWAIA’s financial condition is sound. The fact that a short-term revolving line of credit was obtained does not mean otherwise. SWAIA, like almost all businesses, occasionally encounters cash-flow problems, and short-term, revolving lines of credit are the usual way to solve those problems.
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