.png)
Money… We all want it and yet none of us seem to have it. I have something to say and nowhere to say it.
Didn’t the government give out a ton of money to banks so that they could float the small businesses?
I recently being a small business owner went to a local bank that took tarp money to apply for a loan to help us get through this tough economic time. Not a lot of money, just enough to help cover some expenditures until a large contract we just won starts.
That was 2 months ago and do you know what they said. “… You have excellent credit but we are worried that your current capital won’t cover our losses if you fail…” What? Are they kidding?
The purpose of the loan is to keep the business solvent long enough to begin making those large sums of money again. Doesn’t make sense to me… here we went lent this money to save you, but you are not making it now so we can’t help you survive.
Why take the money? I guess that is the question. They are just trying to fill back up their pockets with money they lost when they lent improperly. That is why we are in this mess now. Now I am just a small man who doesn’t know much, but something is afoot.
Didn’t the government give out a ton of money to banks so that they could float the small businesses?
I recently being a small business owner went to a local bank that took tarp money to apply for a loan to help us get through this tough economic time. Not a lot of money, just enough to help cover some expenditures until a large contract we just won starts.
That was 2 months ago and do you know what they said. “… You have excellent credit but we are worried that your current capital won’t cover our losses if you fail…” What? Are they kidding?
The purpose of the loan is to keep the business solvent long enough to begin making those large sums of money again. Doesn’t make sense to me… here we went lent this money to save you, but you are not making it now so we can’t help you survive.
Why take the money? I guess that is the question. They are just trying to fill back up their pockets with money they lost when they lent improperly. That is why we are in this mess now. Now I am just a small man who doesn’t know much, but something is afoot.
No comments:
Post a Comment