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It is impossible to get loans from banks for unproven business models and it always has been. Banks invest in businesses with proven models, revenue histories,
by jeremyjh 7y ago
It is impossible to get loans from banks for unproven business models and it always has been. Banks invest in businesses with proven models, revenue histories, collateral and audited financial statements. Its just not in any way comparable to what a venture needs.
- Paul-ish 7y agoWhile this makes sense, couldn't the founder personally guarentee the loan? If they have a strong income history, maybe collateral such as a home, it should be possible.