The plaintiff bank brought a motion for summary judgment to recover an outstanding loan made to the defendant, a former employee.
The loan became due upon the termination of the defendant's employment, and the interest rate increased to 21% as the facility limit was reset to zero.
The defendant argued there were genuine issues for trial regarding good faith and the interest rate.
The court found no genuine issue for trial, holding that the loan terms were clear and unambiguous, and granted summary judgment for the full debt plus 21% interest.
