Small and new businesses get loans not based on their competency but their ability to put 20% down and/or their willingness to put their assets, such as their houses, up for collateral.
They then personally sign liability from their suppliers.
Sure, some of them survive 5 years and pay back the loans, but most don’t. Most fail within 5 years. There’s a good reason many states print the suicide hotline number on the envelopes of their tax collection agency’s outgoing mail.
If a business survives 7 years, they’ve likely paid off their startup loans, and are now not risking their own personal capital as much.
Maybe small business owners are greedy, maybe theyre not, but let’s not pretend that they’re a part of the Epstein Class. The reality is they’re part of the same working class as the rest of us.
Small and new businesses get loans not based on their competency but their ability to put 20% down and/or their willingness to put their assets, such as their houses, up for collateral.
They then personally sign liability from their suppliers.
Sure, some of them survive 5 years and pay back the loans, but most don’t. Most fail within 5 years. There’s a good reason many states print the suicide hotline number on the envelopes of their tax collection agency’s outgoing mail.
If a business survives 7 years, they’ve likely paid off their startup loans, and are now not risking their own personal capital as much.
Maybe small business owners are greedy, maybe theyre not, but let’s not pretend that they’re a part of the Epstein Class. The reality is they’re part of the same working class as the rest of us.