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Regular companies aren't given $1m they don't have to pay back. They have to get loans and founders are usually on the hook if the venture fails. This is diff
by senko 2y ago
Regular companies aren't given $1m they don't have to pay back.
They have to get loans and founders are usually on the hook if the venture fails.
This is different from what the article advocates.
- jimmydddd 2y agoI run a small 20 year old service business in the US. Just getting a $300K line of credit from a bank required a lot of paperwork and both the company and me personally being on the hook. It took about a month to secure. In contrast, on a different occasion a secured a personal home equity line of credit for $100K in a bout 5 minutes.
- rambambram 2y agoWas there a mortgage right in the mix in your second occasion?