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Just try it. Small business loans require collateral. Banks aren't in the business of betting on the success or failure of companies. They're in the business
by pg 18y ago
Just try it. Small business loans require collateral.
Banks aren't in the business of betting on the success or failure of companies. They're in the business of liquidity.
- sho 18y agoFair enough. You're probably right. I haven't tried it, after all. I was actually thinking in terms of personal loans, which have less onerous collateral requirements since the debtor can't simply walk away from the loan, but I guess I am making assumptions about the creditworthiness of the founders in that instance, too. It does kind of beggar belief that a couple of smart middle class kids with an obviously working business plan couldn't get someone to loan them a few grand. I guess you can't count on it, though. Point ceded.