You may have better luck winning the lottery than obtaining a business loan in today's economic times. This is due to lenders being extra cautious about who they lend to. This may seem ironic however since the lending money is supplied mostly by the customers who are seeking loans.
You may see many sad stories on the news lately about people who have lost it all due to the bad choices that some bank executives have made when it comes to investing. As a result many of these executives have shamefully apologized for their mistakes. This may never be enough however for those that were left hanging to dry.
Are the lenders to blame or the borrowers? Often the blame can be placed on both as it takes two to tango. Bad lending to bad borrowers will more often lead to disaster.
One should think twice about accepting a large loan in that you may not be able to pay it back. This would result in bad credit that may haunt you for a long while.
Borrow responsibly and only borrow as much as you will need. Speculating once a common practice for many businesses is now considered to be a faux pas. Always watch your spending habits and ask yourself if you really need something.
Borrow sensibly and you can survive economic turmoil and look forward to better days ahead. This may seem like a boring concept but it is key to your success and your future.
You need to get out and get real business credit and stop using your personal credit cards as leverage. I can be the first to tell you that there is a lot of business credit available even in this awful economy. If you start leveraging your personal assets for your business though you could end up broke and homeless. Not to mention stressed out and separated from your family. - 31377
You may see many sad stories on the news lately about people who have lost it all due to the bad choices that some bank executives have made when it comes to investing. As a result many of these executives have shamefully apologized for their mistakes. This may never be enough however for those that were left hanging to dry.
Are the lenders to blame or the borrowers? Often the blame can be placed on both as it takes two to tango. Bad lending to bad borrowers will more often lead to disaster.
One should think twice about accepting a large loan in that you may not be able to pay it back. This would result in bad credit that may haunt you for a long while.
Borrow responsibly and only borrow as much as you will need. Speculating once a common practice for many businesses is now considered to be a faux pas. Always watch your spending habits and ask yourself if you really need something.
Borrow sensibly and you can survive economic turmoil and look forward to better days ahead. This may seem like a boring concept but it is key to your success and your future.
You need to get out and get real business credit and stop using your personal credit cards as leverage. I can be the first to tell you that there is a lot of business credit available even in this awful economy. If you start leveraging your personal assets for your business though you could end up broke and homeless. Not to mention stressed out and separated from your family. - 31377
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