 When Francesco Sassetti's influence removed the long-standing ban on lending to secular officials in 1471, Portinari used his position to make very large and extremely risky unsecured loans to Charles the Bold—loans which were never repaid and cost the bank heavily.He initially loaned 6000 groat, more than twice that branch's total capital; the loan only grew worse, until it stood at 9500 groat in 1478.Unsurprisingly, for his good services, Portinari became a favored councilor to Charles the Bold.